Dutch and Korea firms get Khalifa Port deal

Dutch dredging firm Royal Boskalis Westminster and its South Korean partner Hyundai have won a 1.1 billion euro contract from Abu Dhabi Ports Company (ADPC) for the first phase of the new Khalifa Port.

The project will be executed in four-and-a-half years starting October 2007. Boskalis said it will carry out the work in partnership with its subsidiary Archirodon and Hyundai. The Dutch firm's share of the deal is about 670 million euros. The port is part of the Khalifa Port and Industrial Zone (KPIZ) project being developed between in the Taweelah area. The work includes creation of a 2.2-square-kilometre port island, located five kilometres offshore. When the port's initial phase is completed in 2009, it will have a capacity to handle two million TEUs. Its capacity is expected to rise to eight million TEUs by 2015.

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