Abu Dhabi Ports on growth path
Contributes 2.9 per cent to emirate's non-oil GDP in 2014 as low oil fails to dent container, bulk cargo business.
Abu Dhabi Ports contributed 2.9 per cent to the non-oil gross domestic product of the emirate in 2014, says a study.
According to a study, Abu Dhabi Ports contributed Dh14.1 billion to Abu Dhabi’s non-oil GDP in 2014, which is estimated at Dh486 billion. The contribution came in shape of profits, wages and salaries paid. However, the economic contribution goes beyond Abu Dhabi Ports’ own activities; the supply chain effect plays a big role as well as its suppliers and partners, says the study commissioned by Abu Dhabi Ports and conducted by Oxford Economics and verified by Abu Dhabi Statistics Centre (SCAD).
Revealing the numbers from the study, Captain Mohammed Juma Al Shamsi, chief executive officer of Abu Dhabi Port, said the container and bulk cargo handling did not show any impact of lower oil prices, as Abu Dhabi did not delay or cancelled any project. “Our business has grown 30 per cent year-on-year,” he said despite the lower oil prices, on the back of Abu Dhabi’s economic strength. Al Shamsi said this year role on role off or Roro business was shifted to Khalifa Port from Mina Zayed. Come this July, the project cargo, general cargo would also be moved and by the year-end bulk cargo for Emirates Aluminium or Emal would also be shifted there.
The chief executive said that the cruise business has grown tremendously in Abu Dhabi as in 2014-15 Abu Dhabi received 2,00,407 passengers against 36,000 passengers in 2006-07. He said that for the first time Abu Dhabi would start the home porting of cruise passengers, which means that the foreign tourists would take cruise trips from Abu Dhabi. They will embark on their pleasure trip from here and disembark here also, after flying into the emirate, he said.
Talking about the new cruise terminal, which is being setup in the capital, he said “it’s on target,” and would open in December this year. The chief executive said Khalifa Industrial Zone’s contribution to Abu Dhabi’s GDP is Dh6.1 billion, as it created over 3,600 job opportunities last year.
The ports company introduced, Al Maqta Gateway system which has now connected all government agencies and shipping lines, a move that will bring greater efficiency to the port management. Khalifa Port’s throughput is expected to increase by 900,000 tonnes of general cargo and containers annually once all investors are fully operational.
Abu Dhabi Ports’ activity is forecast to grow substantially over the next 15 years and the combined direct, indirect and induced impacts of Abu Dhabi Ports - including Kizad, capital spending and tourism impact, are forecast to support a Dh49.6 billion at 2014 prices, value-added contribution to Abu Dhabi’s GDP in 2030 and sustain over 104,000 jobs. The number of tourists arriving at Zayed Port is expected to double over the next 15 years
Abu Dhabi Ports’ ports offer more than 100 direct connections to global ports and over 36 shipping lines calling at the ports. Khalifa Industrial Zone has got Dh47.71 billion investment from 71 local and foreign investors. He said that ten of will be fully operational by the end of 2015.
SOURCE : Khaleejtimes