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'Many of us have noticed the unforeseen heat waves and sandstorms more than ever before, in the last two years,' says official
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ADPC appoints NBAD its financial adviser
ABU DHABI - The Abu Dhabi Ports Company, the ADPC, has appointed the National Bank of Abu Dhabi, or NBAD, as its financial adviser following a tender involving several global institutions.
Abu Dhabi’s largest lender by assets will support ADPC to structure and execute its long term financial strategy as it seeks to deliver the landmark Khalifa Port and Industrial Zone project, or KPIZ.
Funding is likely to come from a range of sources and may include bilateral and syndicated bank debt, export credit agency finance, Islamic Funding and debt capital markets.
KPIZ will start operations in 2012 and over the long term to 2030 will comprise 420 square kilometres of prime industrial land organised into vertically integrated clusters for aluminium, petrochemicals, glass, paper and other major sectors.
It will consist of a new, world-class multi-purpose offshore port and one of the largest integrated industrial zones in the world.
Phase 1 of Khalifa Port will open in 2012, replacing Abu Dhabi’s existing main port of Mina Zayed. The new port will have an initial capacity of two million twenty foot equivalent units of containers and nine million tonnes of cargo.
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