FINANCIAL NEWS

Abu Dhabi Ports may launch $1b bond sale

20 Jul 2010

(MENAFN) The Chief Financial Officer at Abu Dhabi Ports Company (ADPC) said that the state-owned firm may sell up to $1 billion in bonds early next year to finance the Khalifa Port & Industrial Zone (KPIZ) in Abu Dhabi, Reuters reported.

ADPC is developing the $2.18 billion KPIZ project, located midway between Abu Dhabi and Dubai in Taweelah.

The company has appointed an Abu Dhabi bank as financial adviser to draw up a long-term financial strategy, the official said in an interview at the UAE capital.

He also affirmed that the ports operator is working closely with Abu Dhabi’s Debt Management Office.

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