Dubai-based Trustworthy.ae group plans to invest AED 365 million ($100 million) in Khalifa Industrial Zone Abu Dhabi (KIZAD) to develop an inland container depot, a third-party container freight station and other port related services over the next five years, the company has announced.
According to the company, construction on the container freight station and inland container depot – which will be developed on a 1.4 million sq ft land plot – will begin in January 2019, and are set to become operational by June of the same year.
Future investments will include the development of engineering services, third-party logistics, marine services, retail and hospitality.
Over the next five years, container volumes at KIZAD are expected to grow from 1.5 million TEUs to 8.5 million TEUs.
"The potential growth in container volumes over the coming years in KIZAD implies the need to build an integrated facility within the port and together with our partners we will provide services such as container handling, repairs and maintenance,” said Abdul Lathif, the managing director of Trustyworthy.ae Group.
The facility will be operated by Hayleys Advantis Limited, the transport and logistics arm of Sri Lanka’s Hayleys Group, which became the country’s first listed company to cross $1 billion in turnover.
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