Abu Dhabi Ports mulls $1bn bond
Abu Dhabi, July 20, 2010
State-owned Abu Dhabi Ports Company (ADPC) may sell up to $1 billion in bonds early next year to finance the Khalifa Port & Industrial Zone (KPIZ) in Abu Dhabi, its chief financial officer said.
ADPC has appointed National Bank of Abu Dhabi as financial adviser to draw up a long-term financial strategy, said a report in our sister newspaper, the Gulf Daily News.
'One of our options is a sukuk or bond in the first quarter of 2011 of about $1 billion,' Ala Khannak said.
In a telephone interview, Khannak said the ports operator is working closely with Abu Dhabi's Debt Management Office.
ADPC is developing the $2.18 billion KPIZ project, located midway between Abu Dhabi and Dubai in Taweelah. – TradeArabia News Service