Sri Lanka’s Hayleys-Advantis wins deal to manage container depot in the United Arab Emirates
Hayleys Advantis of Sri Lanka has reportedly stated that the company had won a deal to manage a container depot in Abu Dhabi, built by the United Arab Emirates (UAE) based Trustworhty.Ae group.
Accordingly, Advantis is to operate an Inland Container Depot (ICD) and third-party Container Freight Station (CFS) being developed by Trustworthy.ae Group in the Khalifa Industrial Zone Abu Dhabi (KIZAD)
“Over the years we have built our expertise in the field of ICD and CFS management and currently have a pool of experts certified by the Institute of International Container Lessors,” Ruwan Waidyaratne, Managing Director, Hayleys Advantis Limited has been quoted as saying in the media.
“This long term engagement at KIZAD gives us a great opportunity to showcase our team’s home-grown expertise to the world.”
KIZAD, a unit of Abu Dhabi Ports, runs an expanding industrial zone and its container volumes are expected to grow from 1.5 million twenty foot equivalent units to 8.5 million over five years, Advantis has stated.
The Trustworthy.ae Group is planning to invest nearly 100 million dollars to develop the facility and other port related services in KIZAD.
The inland container terminal and freight stations will be built on a 1.4 million square foot area. Construction is expected to start in January 2019 and end in June 2019.
“The proven reliability of over a hundred years and professionalism were the key factors in entering this strategic partnership,” Executive Director of Trustworthy.ae Group, Jalal Essudeen has said in a statement.
OSL take:
The deal secure by Sri Lanka’s Hayleys-Advantis in the UAE is indicative of the strength and growth of local businesses. It is also indicative of the country’s growing economy and the expansion of local businesses. Therefore, foreign businesses/investors could explore possibilities of setting up businesses in Sri Lanka as well as forming joint ventures with local businesses.
| Article Code : | VBA/AT/11012019/Z_4 |