KIZAD secures deal for US $100-million inland container depot and freight station
Dubai-based Trustworthy.ae Group will invest US $100-million in Khalifa Industrial Zone Abu Dhabi (Kizad) to develop container shipping infrastructure to compliment Port Khalifa.
The group will develop an inland container depot (ICD), a third-party container freight station (CSF) and other port-related services over the next five years, according to the terms of the deal.
According to a statement issued by Trustworthy, the investments will include the development of engineering services, third-party logistics, marine services, retail and hospitality.
Construction will commence in January 2019 and the 1.4-million sqft container freight station and inland container depot are set to become operational by June 2019.
Both will be operated by Hayleys Advantis, the transport and logistics arm of Sri Lanka's Hayleys Group.
“Our state-of-the-art inland container depot and container freight station will provide world-class and reliable services to our clients across various industries,” said Abdul Lathif, managing director, Trustworthy.ae Group.
“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,” he added.
Container volumes in Kizad are expected to grow significantly from 1.5 million twenty-foot equivalent units (TEUs) to 8.7 million TEU's over the next five years.
“As the leading logistics solutions provider in Sri Lanka, Hayleys Advantis Limited is happy to enter into this landmark partnership with Trustworthy.ae Group, stepping into the Middle East market after having already established its presence in over ten countries,” said Hayleys chairman Mohan Pandithage.