Abu Dhabi Terminals (ADT) has signed a AED 300 million (USD 81.7m) financing agreement with Abu Dhabi Commercial Bank (ADCB) for the development of Khalifa Port Container Terminal (KPCT).
ADCB‘s facilities will be utilized primarily for capital expenditure, corporate services, and the re-financing of an existing short-term bridge loan.
Martijn Van De Linde, CEO of Abu Dhabi Terminals, said: ”We are extremely pleased to sign this long-term agreement with ADCB, a key partner for Abu Dhabi Terminals’ future growth strategy. KPCT has witnessed a 20% year-on-year increase in containers handled since its opening in December 2012. This important financial partnership with ADCB allows us to invest in the required expansion to support the economic growth of the UAE and at the same time provide our customers with fast and efficient services.”