Dubai-based Trustworthy.ae Group is set to invest Dh365 million (USD 100 million) in Khalifa Industrial Zone Abu Dhabi (Kizad), to develop an inland container depot (ICD), a third-party container freight station (CSF) and other port-related services over the next five years with Hayleys Advantis Limited, the transport and logistics arm of Sri Lanka’s Hayleys Group, signing on to operate the facility.
Kizad is one of the largest industrial zones in the Middle East and a subsidiary of Abu Dhabi Ports.
Construction on the container freight station and inland container depot, which will be developed on a 1.4 million sq ft land plot, will commence in January 2019 and is set to become operational by June 2019.
“As the leading logistics solutions provider in Sri Lanka, Hayleys Advantis Limited is happy to enter into this landmark partnership with Trustworthy.ae Group, stepping into the Middle East market after having already established its presence in over ten countries," Hayleys PLC chairman Mohan Pandithage said
“It gives us great pride to represent and work with many of the large shipping and freight companies in the world and we look forward to a fruitful partnership with Trustworthy.ae Group to build a world-class operation in Kizad using our diverse and in-depth expertise,” he added.
Hayleys is the first Sri Lankan-listed company to cross USD 1 billion in turnover in fiscal year 2017/18.