Sri Lanka’s Hayleys Advantis joins Dubai firm to set up Inland Container Depot in Abu Dhabi
Hayleys Advantis Ltd (Advantis) of Sri Lanka has in partnership with Dubai-based Trustworthy.ae Group, recently broken ground at their first Inland Container Depot (ICD) facility in Abu Dhabi.
Advantis will manage and operate a state of the art Inland Container Depot (ICD) and Third-Party Logistics (3PL) facility being developed by Trustworthy.ae Group, in the Khalifa Industrial Zone Abu Dhabi (KIZAD), the local media has reported.
This is Advantis’ first foray into the West Asian market, having established its footprint across the Asian region. The company brings forth over two decades of experience in ICD and 3PL management, with it operating multiple facilities across Asia, the company has said in a media release.
“It gives me great pleasure to see this project get off ground within a short period of time. I must thank the Trustworthy Group for their expeditious action which has led to us breaking ground at this facility within the span of a few months of signing this agreement. We look forward to having a fruitful partnership with the Trustworthy team in Abu Dhabi,” Mohan Pandithage, Chairman/CEO, Hayleys PLC has said.
The statement has noted that mobilization work on the facilities will begin this month with the ICD becoming operational in June 2019. Spread over a built-up area of 40,000 sqm along with 25,000 sqm of open yard storage, the 3PL facility will be ready for business by the first quarter of 2020.
“This groundbreaking ceremony marks an important milestone on our project. Trustworthy.ae Group’s investment in building the ICD and 3PL facility in KIZAD demonstrates our continued commitment to the UAE,” Abdul Lathif, Managing Director, Trustworthy.ae Group has said. “We are proud to collaborate with Hayleys Advantis on this exceptional project and who are leaders in managing and providing world-class depot and logistics facilities. We are confident that Hayleys Advantis will set a new benchmark for quality and service in the Middle East region.”
OSL take:
The joint venture project launched by Sri Lanka’s Hayleys Advantis with Dubai-based Trustworthy.ae Group to set up an Inland Container Depot indicates the strength and growth of the private sector in Sri Lanka. Foreign businesses/investors could explore possibilities of forming joint ventures with Sri Lankan companies to engage in business within and outside Sri Lanka.
| Article Code : | VBS/AT/22032019/Z_4 |