ADPC may raise funds next year
- United Arab Emirates: Thursday, October 25 - 2012 at 03:44
Abu Dhabi Ports Co (Adpc) may raise funds in 2013 to meet the growth potential of its Khalifa Port as the emirate boosts the development of industries that will reduce its reliance on oil exports, Bloomberg has reported. Khalifa Port, which began commercial operations last month, will handle 1.2 million TEUs, or 20-foot standard containers, by 2014, Tony Douglas, chief executive of Adpc, told the news service. The company will need to order six more cranes to utilise the port's current 2.5 million TEU capacity, he said. "There's every chance that next year we may look at syndicated financing. We have no plans to go the bonds or sukuk route."
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