Holland Gulf Chamber of Commerce » uae

UAE rail to link to GCC network

jochemgeheniau — Mon, 06 Jan 2014 10:10:26 +0000

Abu Dhabi: Completion of the UAE railway by 2018 can only bring more prosperity not only to the UAE but also the country’s five GCC neighbours as rail lines are constructed across the region, said Etihad Rail .

The UAE railway will connect with the sources of raw materials, industrial areas, ports and major population centres, says Etihad Rail , and will be built in three phases, the first of which will be a 266km-long western stretch between Al Ruwais and Shah. The Shah-Habshan-Ruwais freight line is being built in collaboration with Abu Dhabi National Oil Company (Adnoc).

The 2,177-km-long GCC rail network, which will link all six Gulf states by rail for the first time — providing an alternative to air or sea travel for both goods and passengers in the region — will be fully operational in 2018, said Dr Ramiz Al Assar, World Bank resident adviser of the GCC Secretariat General in Riyadh, in October.

“The designs of the nearly $200 billion (Dh734 billion) network, which will run down the Gulf coast from Kuwait, through Saudi Arabia, to the UAE and Oman, with branches linking Bahrain and Qatar, will be completed by the end of this year or in the first quarter of next year. Construction on the network is to start in 2014-15 and it will be fully operational in 2018,” Dr Al Assar told the Mena Rail and Metro Summit, being held in Abu Dhabi.

Abu Dhabi is leading the GCC rail network with its Dh40 billion Etihad Rail project. The 1,200-km line, planned to be completed in 2018, will link major industrial zones, cities and ports in the UAE, and will eventually connect with the GCC railway.

In October 2011, Etihad Rail signed an agreement with Adnoc to transport about seven million tonnes of granulated sulphur a year from Habshan and Shah to Al Ruwais in Abu Dhabi for export.

The second phase will connect Abu Dhabi with Dubai. It will also provide links to Jebel Ali port, Mussaffah and Khalifa port. The third phase will be the extension to link the northern emirates. The second phase is expected to be completed by 2016 and the third phase by 2017.

The Etihad Rail network will also connect with the GCC network and this — once fully established — will cover Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE.

GCC industrial investments exceed USD338 billion

jochemgeheniau — Mon, 16 Dec 2013 08:40:55 +0000

Total Industrial investments in the GCC have jumped from $81 billion in 1998 to $338 billion in 2012.
The Gulf Organization for Industrial Consulting ( GOIC ) revealed some figures about the progress of industrial activities in GCC countries.
The number of firms in the GCC jumped from 7,089 in 1998 to 15,165 in 2012. The number of workers grew from 55,9420 workers to 1.34 million workers.
Most of these investments were in the areas of chemicals, refining petroleum products, base metals, construction metals, building materials and food industries.
GOIC highlighted these figures during the “Reality and prospects of UAE national industrial sector” conference in Sharjah, according to a press release here.
It is taking place with the support of Sheikh Sultan bin Mohammed Al-Qasimi, member of the Supreme Council of the UAE and Ruler of Sharjah.
This conference aims at introducing high-quality UAE industries at the regional and international levels and discussing means of developing and diversifying them.
GOIC Secretary General Abdulaziz bin Hamad Al-Ageel gave a keynote speech in which he highlighted the Gulf industrial sector development.
Al-Ageel said: “More than 83 percent of GCC industrial firms are small and medium industries, but most industrial investments are in the area of big industries. More than 95.8 percent of the cumulative investments in the industrial sector of the Gulf.”
He added: “As to the contribution of the industrial sector in GCC countries’ GDP, it ranged between 9.5 percent and 10.5 percent from 2001 to 2012, except for 2008 when it was reduced to 8.5 percent because of the global financial crisis.”
GCC countries also maintained a positive growth in the manufacturing industry value added in terms of the GDP throughout the last five years.
The GOIC secretary general stressed the role of GOIC in supporting industrial development projects in GCC countries by developing GCC industrial and economic databases, preparing several studies about the industrial sector and suggesting industrial investment opportunities in GCC countries.
In addition, GOIC provides public and private sectors with technical consulting services.
It also prepares studies and reports at the regional level, notably the GCC industrial map project that shed light on missing industries and target industries in GCC countries.
The organization suggested and promoted several investment opportunities in different GCC countries in coordination with chambers of commerce and industry and ministries of industry and trade.
Al-Ageel reiterated GOIC ‘s will to keep up with international developments and their repercussions on manufacturing industries and knowledge-based industries in GCC countries.
The organization publishes an annual report about the readiness of GCC countries to move to knowledge-based industries.
In the last three years, analysis has led to two groups of states: the first is for countries that achieved remarkable progress toward knowledge-based industries and includes Saudi Arabia, UAE and Qatar.
These countries will be ready to move to knowledge-based industries by 2020 if they manage to fix their current vulnerabilities.
As to the second group, it includes Kuwait, Oman and Bahrain. They should deploy additional efforts to move to knowledge-based industries.
Al-Ageel also commended GCC countries for their achievements in this area.
He said: “Knowledge-based industries and industry innovation clusters have five pillars, and human resources is the most important pillar. In this regard, GCC countries made a quantum leap in terms of expanding the reach of basic, secondary and university education. Nevertheless, further efforts should be deployed to improve the quality and quantity of professionals in the area of knowledge. As to the second pillar, it is a framework for developing knowledge-based industries. GCC countries adopted excellent macroeconomic policies, and while frameworks of business policies still differ between these countries, they are generally solid but with some room for overcoming a number of restrictions.”
The GOIC secretary general said: “The third pillar is a combination of capital, funding and liquidity.
Although they are largely available in the region, there is a need to expand financing structures that are necessary to develop knowledge-based industries. Innovation systems are the fourth pillar. They encompass collective assets and operations boosting innovation in business applications. Foundations for supporting innovation systems in the GCC are being laid, but these initiatives are still immature and require additional time and attention in order to reinforce innovation capacities.”
As to the fifth pillar, Al-Ageel said: “It is knowledge-based industry infrastructure; GCC countries have a relatively advanced infrastructure to develop knowledge-based industries, but further changes to some policies should be implemented.”
He reiterated: “GCC countries need a specific policy for knowledge-based industries, since this type of knowledge has several implications on policies such as protecting knowledge assets and investing in producing or using knowledge assets. Government policies can develop appropriate frameworks to protect intellectual property that encourages producing and sharing knowledge between all stakeholders.
In addition to that, technical infrastructure and innovation are necessary, but they are not enough to prove the active development of manufacturing industries and to reinforce knowledge-based industries.
These industries require appropriate legal and business environments in order to prosper and thrive in open and competitive markets. In fact, policies play a major role in determining these conditions.”
Al-Ageel reminded governments and industrial investors that “knowledge-based strategies rely on competitive advantages in different countries. Therefore, industries with competitive advantages have a wide reach and benefit from established skills. They need comprehensive political reforms to provide a vibrant work environment which reduces bureaucracy barriers, improves access to financing and regulatory and statutory frameworks, and help improving education that is the first milestone toward responding to the pressing need for human capital.”
Al-Ageel said: “Governments should play a bigger role in providing knowledge networks and public-private partnerships (PPPs). Such measures would reinforce knowledge-based industries, give priority to small and medium knowledge-based industries and boost privatization.”

Dubai set to become its own island

jochemgeheniau — Fri, 04 Oct 2013 08:04:10 +0000

Dubai: Few residents of Bur Dubai could ever imagine that one fine morning they would awaken as islanders.

But that’s precisely what lies in store in a few years as the final shovel of dirt is removed to complete the new Dubai Canal, extending the Dubai Creek from Al Shindagha all the way to Jumeirah, morphing the area into a new man-made island surrounded by water.

The Dh2 billion canal project was launched on Wednesday by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, an initiative that is expected to boost the Dubai bid for World Expo 2012.

The three-kilometre long canal will start from Business Bay, cutting under Shaikh Zayed Road, Al Wasl Road and Jumeirah Beach Road before it merges with the Gulf waters along Dubai’s shoreline.

Being the heart of Dubai and one of the oldest parts of the city, the area is a mix of commercial hubs and residential neighbourhoods, which unlike other parts of the city, haven’t seen much change for years.

Man-made islands are not new to Dubai and neither are mega projects unheard of in the city. Known for its biggest, largest and tallest projects that have helped the city to stay ahead of other metropolis in the region, residents feel this ambitious project will further add to the charm of the city that continues to reinvent itself. Good reason for longtime inhabitants to be excited.

Emarati media professional Fatima Arbabi lives in a part of Jumeirah which will definitely benefit from the new development. “It’s a brilliant project and I congratulate all the people who are part of it for coming up with such a wonderful idea. Dubai is known for its brilliance in infrastructure, one can appreciate this more when we go to other parts of the world. I’m proud that I’m part of such a blessed city,” said Fatima, who lives in Jumeirah, just a stone’s throw away from the canal site.

Once the canal is ready, Fatima’s house will be a waterfront property, which she feels will bring positive lifestyle changes. “I’m glad that I will be an inhabitant of an island with an exotic waterfront facing my home, can’t ask for anything more.”

Another Emirati, Baqer Abdul Wahed, who lives in Al Wasl area just a few blocks away from where the canal will flow, is confident the canal will inject new life into the neighbourhood.

“This project will be good for Dubai in general and for the residents of Jumeirah and neighbouring areas in particular. Living standards will improve and the area will with bustle with new life and activities. Dubai believes in continuously reinventing itself and offering its people new experiences, I’m sure this project will prove to be another masterstroke,” said Baqer Abdul Wahed, an Emirati who lives in Al Wasl area, just a few blocks away from where the canal will flow.

Mohammed bin Rashid launches “Dubai Water Canal”

jochemgeheniau — Thu, 03 Oct 2013 08:22:05 +0000

- The New Canal spans three kilometres from the Business Bay to Arabian Gulf – Six metres in depth and bridges rising 8.5m will ensure free passageway of large boats – The project includes shopping mall, four hotels and 450 restaurants and expected to attract 20 million visitors annually Dubai, 2 Oct. 2013 (WAM) – His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has launched today the “Dubai Water Canal” project extending in the heart of Dubai with three kilometres in length and 80-120 meters in width.

The Canal stretches from the Business Bay district and crosses the Sheikh Zayed Road (between Safa and 1st Interchanges) and passes across the Safa Park, Al Wasl Road, Jumeirah 2, and Jumeirah Road to terminate at the Arabian Gulf. The construction of the infrastructure (construction of bridges and drilling of the canal course) amounts to about two billion dirham, and all construction works are set to be completed by 2017.

Sheikh Mohammed was briefed on the details of this unique urban tourist-cum- commercial project; which offers a new lifestyle in the heart of Dubai city. The ¨Dubai Water Canal¨ will add about six kilometres to the Dubai water front and the project provides an area spanning more than 80 thousand square meters designated as public realms containing vital facilities as well as convenient and excellent means to meet the needs of all community segments.

The Project encompasses new shopping and entertainment centres linked through a uniquely designed bridge and the project will add more than 450 new restaurants along with a wide array of luxurious marinas for yachts, and 4 world-class hotels. At the entrance of the Project from Sheikh Zayed Road, an iconic Trade Centre will be constructed comprising 4 levels, including one underground level and three elevated levels linking the Business Bay with the project zone in a total area of more than 50 thousand square metres.

The development of the waterfront will allow for the construction of deluxe residences and private marinas for boats along with pedestrian pathways, cycling tracks, together with fine business outlets, hotels and deluxe restaurants. The project will boost the position of the Jumeirah area as a premier and distinctive destination in Dubai. The project is expected to attract 20 to 22 million visitors per annum.

The ¨Dubai Water Canal¨ will have a depth of six meters and bridges above it will rise more than eight meters, offering free navigation for deluxe yachts extending up to 200 feet. The canal will contribute to renewing the water of the entire Business Bay Canal automatically without any need for hydraulic pumps. An extra flushing capacity will be added to the Dubai Creek when the Canal is connected to Business Bay, by approximately 250 million cubic meter per year.

The total tidal water exchange through the Canal is estimated to be around 800 million Cubic metre per year, and the Canal is anticipated to have a cooling effect, benchmarking to a similar Project “Cheong Gye Cheon” manmade canal in Seoul, where the recorded thermal reduction reached -3.6 C.

Explaining the project features, Al Tayer said: “Works in the project have been split into three contracts; the first and second relate to the construction of crossings over the Canal linking with the key roads intercepting the Canal course; which are Sheikh Zayed Road spanning eight lanes in each direction, and three lanes on each side of Al Wasl Road and Jumeirah Road. These crossings are constructed 8.5 meters above the water level, thus allowing for a free navigation in the canal 24 hours a day. The third contract encompasses the drilling and landscaping works as well as the construction of four pedestrian crossings. Four marine stations will be constructed to ease the mobility of the public and promote the public and tourist transport. The marine transit modes are expected to ferry more than six million passengers per annum, according to the marine transport plan in Dubai.

“The RTA will carry out a number of improvements in main roads network intercepting the course of the Canal, besides making some improvements at the surrounding areas such as Jumeirah and Safa; including the construction of service roads at the two banks of the Canal in the surrounding areas such as Jumeirah and Safa to ease the transiting between these areas. As for pedestrians, a free and safe navigation will be provided through the construction of four pedestrian crossings above the Canal including one bridge that contains convenient stores in addition to other tracks designated for practicing light sports such jogging and cycling across the two banks of the Canal. It also covers landscaping works on both sides of the Canal such as greens, benches, relaxation areas and a host of diverse tourist projects and facilities,” added Al Tayer.

Feasibility studies for GCC railway project under way

jochemgeheniau — Wed, 02 Oct 2013 09:05:45 +0000

Two international firms will conduct feasibility studies for the proposed multibillion-riyal railway project that would link the six-member countries of the Gulf Cooperation Council (GCC), it was revealed at a recent meeting here of the GCC transport ministers.
Bahraini Minister of Transport Kamal bin Ahmad said the two companies would conduct technical, consultative and engineering studies. He did not specify a timetable for the start of the project.
Bin Ahmad said that Saudi Arabia and Bahrain’s ministries of finance and transport agreed to appoint the General Organization of the King Fahd Causeway as the body to choose the company that would oversee the project.
The Bahraini minister said the technical specifications for the project have been drawn up. In addition, the six Gulf states have been asked to double check the coordinates for the railway lines, junctions and stations, to ensure paying the minimum cost possible and adherence to environmental safety standards.
He said it was unlikely the project would cost $11 billion as estimated by the World Bank. “The costs are much less than what the initial studies indicated.”
Saudi Transport Minister Jabara Al-Seraisry said the six nations were focusing much attention on the project. “There is a big movement and lobbying to implement the decision of the higher council of GCC states to complete the project by 2018,” he said.
Meanwhile, Abdullah bin Jumah Al-Shalabi, assistant secretary general for economic affairs, said in a press release that the meeting also discussed marine transport issues including the safety of small and cargo ships not covered by international naval treaties, and piracy problems off the Somali coast and in the Gulf of Aden.
Meanwhile, construction is progressing on the Bridge of Love (Jisser Al-Mahabah) announced in 1999 between Bahrain and Qatar, the Bahraini minister said.

Oct 15 first day of Eid Al Adha in most Muslim countries… Holidays from Oct 14?

jochemgeheniau — Tue, 01 Oct 2013 09:03:31 +0000

The first day of Eid Al Adha is expected be on Tuesday, October 15, in most Islamic countries, according to a statement on Sunday from the Islamic Crescents’ Observation Project (Icop).
The statement says, “The sighting of the crescent should be possible in most regions of the world with naked eyes on Sunday October 6, 2013, therefore, it is predictable that day will be the 1st of Dhu Al Hijjah 1434 AH, and therefore the 10th Dhul Al Hijjah 1434 AH, or Tuesday 15th October 2013, is expected to be the first day of Eid Al Adha”.

Earlier report:

Eid Al Adha holidays: 3 days for private sector?
The UAE private sector staff can look forward to a three-day paid leave.
Eid Al Adha holidays in October are to begin, according to Islamic Affairs and Charitable Activities Department in Dubai (Iacad), on Monday, October 14 – the Waqfat Arafat day.
They will, thus, be off from October 14, Monday until Wednesday, the 16th.
Private sector employees will return to work on Thursday, the 17th.

Government Holidays
The government and federal institutions in the UAE are likely to enjoy a six-day holiday for Eid Al Adha in October.
Eid holidays will begin from October 14, Monday until Saturday the 19th, according to a calendar prepared by Iacad.
The holiday includes the day of Waqfat Arafat – the day before Eid Al Adha which will fall on (Monday) – followed by three days of Eid and a Friday-Saturday weekend.
Thus, government and federal institution staff can look forward to a six-day holiday in October. They will return to work on October 20.

Middle East’s solar energy plans entail huge financing

jochemgeheniau — Wed, 31 Jul 2013 16:18:20 +0000

JEDDAH – Saudi Arabia and the United Arab Emirates are seeking to add 1,000 megawatts of solar capacity enough to electrify 200,000 homes. However, the renewable energy drive of setting up solar-power plants will need more than $1.5 billion in financing by the end of 2014.

The forecast expansion, which includes Jordan, will require loans and export credits, said Vahid Fotuhi, president of the Dubai-based Emirates Solar Industry Association.
Governments across the Middle East and North Africa consider sun and wind energy as crucial for meeting the needs of growing populations and economies, with Saudi Arabia leading the way.
Saudi Arabia plans to invest more than $100 billion to generate about 41,000 megawatts from solar energy, or a third of its total power output, by 2032. That compares with about 16 megawatts of solar capacity today, a level that places the kingdom behind Egypt, Morocco, Algeria and the UAE, according to Bloomberg New Energy Finance.
Abu Dhabi National Energy, a conventional energy-producer known as Taqa, raised about $4 billion in loans this year and in 2012. The $2.5 billion in revolving credits it arranged in December include a three-year credit priced at 75 basis points more than the London interbank offered rate, and a five-year component priced at 100 basis points more than the Libor benchmark, data compiled by Bloomberg show.
Abengoa Solar, a partner in an Abu Dhabi sun-power plant, borrowed $142 million at 175 basis points more than Libor, according to data compiled by Bloomberg. Costs are even higher for First Solar Inc. (FSLR), the largest US solar manufacturer and builder of Dubai’s first solar electricity plant, which arranged a $431 million secured letter of credit at 225 basis points more than Libor, data gathered by Bloomberg show.
Oil producers want to develop renewables to conserve more crude for export, while countries relying on imported fuel see local green power as a cheaper alternative. State support for utilities and a growth in regional power demand of about 5 percent a year mean companies such as Abu Dhabi National Energy Co. (TAQA) can borrow at rates that are 100 basis points, or 1 percentage point, lower than Spain’s Abengoa Solar SA.
Lenders may hesitate to continue funding the massive expansion as commercial banks seek to limit exposure to renewables projects, said Steve Mercieca, the Dubai-based chief executive officer of the Clean Energy Business Council. Governments should encourage the availability of Islamic bonds (sukuk) to help finance solar facilities under construction, he said.

“The Saudi market already has an attractive framework for building and funding traditional power plants, and liquidity is ample in local banks,” Mercieca said. “Appetite is going to be substantial” for the funding of such projects, he said.
“If you see a rising population and rising energy demand, that really helps the risk profile,” Amol Shitole, a credit analyst with SJS Markets Ltd. in Bangalore, India, said. Projects that can pair local companies with international power-plant developers already known to lenders will have “strong support from banks,” he added.
Renewables investment in the Middle East and North Africa rose 40 percent last year to $2.9 billion, according to the International Renewable Energy Agency.

Emaar launches new residential project

jochemgeheniau — Mon, 10 Jun 2013 08:18:32 +0000

Emaar Properties has unveiled its newest residential development in the city. The Hills, envisaged as part of Emirates Living, the pioneering master-planned communities by Emaar, will stand out for its spectacular Golf-course views and a focus on a greener lifestyle through several energy and water efficiency initiatives.
Overlooking the Emirates Golf Club, with easy access from Sheikh Zayed Road, The Hills features two residential buildings of 12 and 15 stories, each featuring one, two and three bedroom apartments. All apartments overlook either the rolling greens of the golf course or spectacular views of the cityscape and beyond. The Hills will be defined by world-class amenities and several swimming pools, a value addition that enhances the quality of life of residents seeking a leisurely lifestyle.
The Hills residential buildings are part of a complex of four low-rises. A key component of the development is a hotel under Vida Hotels and Resorts, the latest addition to Emaar’s hospitality portfolio, promising the new generation of business executives, entrepreneurs and leisure travelers a stimulating lifestyle environment. Another low-rise building will feature Vida serviced apartments, also catering for business and leisure visitors.
Ahmad Al-Matrooshi, MD, Emaar Properties, said: “Emaar pioneered the concept of master-planned communities with Emirates Living, a collection of neighborhoods, including The Lakes, The Greens, The Meadows and The Springs that are now fully established and continue to be sought-after by families. With The Hills, we are broadening our Emirates Living portfolio, offering residences that are distinguished by their sustainability features and their impressive golf course views. The Hills will define a new, relaxing lifestyle for residents, who can also access all lifestyle amenities in close proximity.”

10 mega projects to adorn Dubai

jochemgeheniau — Wed, 15 May 2013 09:51:47 +0000

Dubai: In a major drive to further improve the infrastructure of the city, Dubai Municipality has launched 10 major projects to be completed at various dates in the next couple of years.

The projects, at a cost of Dh883.5 million, include the Dubai Safari, traditional souqs, a new fish market, birds and animal market as well as various tourist attractions.

Visiting the sites where the projects are currently under way, Eng Hussain Nasser Lootah, Director General of Dubai Municipality, said: “The civic body is confident of accomplishing the two ambitious tourism projects, Dubai Safari and Dubai Frame, by the end of 2014, in addition to eight high-tech markets across the different areas of the emirate.”

Being built at a cost of Dh150 million, Dubai Safari — which is currently under construction in Al Warqa 5, Aweer Road, on an area of 396 hectares — is one of Dubai Municipality’s most prestigious projects.

The project includes Arabian Village, Asian Village, African Village to accommodate animals from different continents, in addition to Open Safari, Butterfly Park, golf courses, entertainment and recreational areas.

Another ambitious project that the civic body has launched is Dubai Frame. An integrated glassy and transparent frame resembling a huge window will uniquely highlight the attractions of the emirate, where the visitors can view the scenes and buildings on Shaikh Zayed Road from one side symbolising the modern Dubai, while the other side of the frame will show the landmarks of Deira, Umm Hurair and Karama, which symbolise old Dubai. The ground leg of the Frame includes a museum that tells the story of the development of the city and information on the past and present.

The height of the Dh120 million Dubai Frame will be 150 metres, with a width of 100 metres. The project will be constructed inside Zabeel Park.

Apart from these two tourism projects, the civic body is currently constructing eight markets and shopping complexes.

The list of markets includes Al Fahidi Market, which is almost ready and is among the first projects in the emirate that completely applies green building specifications along with the use of solar energy system for lights and water heating and cooling.

The market, built at a cost of Dh50.5 million on 27,000 square metres, allocates specific areas for different types of trade activities such as food, fabrics, toys, handicrafts, traditional products and gold.

Next in line is Al Ayas Shopping Complex in Al Ayas area, being built at a cost of Dh8.5 million on an area of 4,180 square metres and will be completed by the middle of 2014.

The municipality is building a major Bird and Animal Market. Being built at Al Warsan 3, the Dh54.5 million market will house all trading and entertainment activities related to birds and animals.

The Deira Fish market, which is one of the most popular markets in Dubai, will be replaced with a double sized eco-friendly fish market aiming to meet the increased demands of the society. The fully air conditioned market will be built at a cost of Dh250 million, completely in line with green building standards, directly overlooking the sea.

To be built in an area of 120,000 square metres encompassing specific sections for meat, food and vegetables, the market will have adequate underground and open parking spaces as well.

The other markets include a Truck Market in Ruwayya, a Used Furniture Market in Nad Al Sheba 3, Hatta Traditional Market and a Boat and Fishing Market in Al Barsha North.

In addition to these 10 projects there are some other unique projects like the Holy Quran Park and Maritime Museum which are still in the initial stages of design and other preparations.

GCC invest $36b in port development

jochemgeheniau — Mon, 18 Feb 2013 09:37:50 +0000

JEDDAH — The GCC countries are allocating $36 billion to further develop their port infrastructure amid increasing foreign non-oil trade volumes.

Saudi Arabia is powering ahead with port infrastructure development with more than $750 million allocated to Dammam’s King Abdul Aziz Port, which includes the launch of a second hi-tech container terminal in 2015 with capacity for 1.8 million TEUs per annum.

The Jizan Economic City project will also include port infrastructure plans while the northwestern port of Dhiba will get a new $46.4 million container terminal. Two additional terminals, valued at $38.4 million, are to be constructed at King Fahd Industrial Port in Jubail while Jeddah Islamic Port is forecasting an average increase of 10.9 percent through to 2016.

Qatar’s new $7.1 billion mega-port project, located close to the busy Messaeid Industrial Zone and Port is aiming for a 2016 opening, with eventual capacity of six million TEU per year by 2028.

Against this backdrop, the International Association of Ports & Harbors (IAPH) will meet in the UAE capital from on March 19-20, 2013, for the third annual edition of the World Ports & Trade Summit at the St Regis Saadiyat Island Resort.

In the UAE, Jebel Ali will see its terminal three capacity expanded to 19 million TEU per annum, with Abu Dhabi’s Khalifa Port Terminal adding a further 15 million TEU per year upon completion in 2030. – SG

Oman is also expanding existing facilities at Salalah, to form a new $143 million maritime- meets-air hub, and phase one of its 1,061-kilometre long national railway system will include a link from Sohar Port to Al Misfah (Muscat) and onwards to Duqm Port, as well as connecting Sohar to the UAE border. In the UAE, Jebel Ali will see its terminal three capacity expanded to 19 million TEU per annum, with Abu Dhabi’s Khalifa Port Terminal adding a further 15 million TEU per year upon completion in 2030.

According to the UAE Federal Customs Authority, foreign exports soared in the first eight months of 2012 with non-oil trade reaching almost $184.6 billion, up $19 billion against the same period in 2011.

Export growth of 49 percent saw total exports jump to just under $31 billion compared to $20.6 billion the previous year. Foreign non-oil imports were also up by 11 per cent, an increase of $11.8 billion, with 85.1 million tons of goods coming into the country from January to August 2012.

“The UAE, and its neighbours are fast becoming a more cohesive maritime and air trade power that will provide a vital link between the Far East and Australasia. Europe and North America; and with over $36 billion investment into port transportation in some of the Gulf’s key destinations, the future potential for trade growth is unlimited,” said Chris Hayman, Chairman of Seatrade.

“With the proposed GCC regional rail network entering the early phases of development in the UAE and Saudi Arabia, and receiving government sign-off elsewhere, the road map for land-sea-air connectivity is in place to drive new intra-regional opportunity and the development of next generation terminal facilities are needed to accommodate future projected demand,” said Hayman.

“In the interim, with the world’s largest ship owners’ association — Bimco — confirming that the current oversupply of vessels will continue to force down shipping rates, this gives added impetus to those opportunistic companies looking to expand their trade horizons while market rates swing in their favour,” he added.

Taking place at the five-star St Regis Saadiyat Island Resort, and an annual calendar event for global economists, port authorities, terminal operators, shipping companies, global cargo owners and investors, the two-day summit will deliver a focused programme of conference sessions designed to promote trade development, examine supply chain management systems and discuss port efficiency. Organised by Seatrade, the World Ports & Trade Summit is held in strategic partnership with the Abu Dhabi Ports Company (ADPC).