AD Ports Group has recorded a 30% surge in vehicle volumes through Autoterminal Khalifa Port in the first half of 2024. To meet high levels of demand the facility has recently added 90,000 m2 of yard storage capacity, which is now in use.
The success of Autoterminal Khalifa Port been a significant contributor to the rapid overall growth of AD Ports Group over the past year. Saif Al Mazrouei, Chief Executive Officer, Ports Cluster, AD Ports Group, commented: “The record increase in first-half ro-ro volumes exemplifies Khalifa Port’s adaptive scalability, which is the product of years of forward-looking investment in cutting-edge infrastructure. This has enabled us to meet market demand in real-time.”
AD Ports has recently strengthened its future position financially by reaching agreements with two UAE banks to refinance its syndicated loan of US$ 2.25 billion at more favourable terms. This is expected to enable the Group to save up to AED 44 million (US$ 12 million) in finance costs over the next 12 months. The new facilities will provide more flexibility to optimally time a return to the debt capital markets in line with its stated strategy to utilise bonds as its predominant long-term funding vehicle.