Abu Dhabi Commercial Bank (ADCB), a leading United Arab Emirates financial institution, announced a significant investment in Djibouti's infrastructure development. The bank has signed a project finance deal worth 147 million dirhams (approximately $40 million) with Horizon Djibouti Terminals Ltd (HDTL).
This strategic partnership will propel the construction of a bulk liquid storage terminal facility at Doraleh village, strategically located just 10 kilometers from Djibouti Port. The new terminal is poised to bolster Djibouti's position as a vital trade and logistics hub in the Horn of Africa.
"We are delighted to partner with Horizon Djibouti Terminals Ltd on this landmark project," said a spokesperson for ADCB. "This investment aligns perfectly with our commitment to supporting the growth of infrastructure across the region. The new bulk liquid storage terminal will significantly enhance Djibouti's capacity to handle vital commodities, contributing to the nation's economic diversification and trade expansion."
HDTL expressed its gratitude for ADCB's support. "This project finance deal represents a major milestone for Horizon Djibouti Terminals Ltd," commented a company representative. "The funding provided by ADCB will be instrumental in realizing our vision of establishing a world-class bulk liquid storage facility in Djibouti. This terminal will not only serve the growing domestic market but also cater to the increasing demand for efficient and reliable storage solutions in the region."
The new bulk liquid storage terminal is expected to offer a wide range of storage options for various liquid products, including petroleum products, chemicals, and edible oils. The facility will incorporate cutting-edge technologies and adhere to the highest international safety and environmental standards.
Industry analysts predict that the project will create significant job opportunities in Djibouti during the construction and operational phases. Additionally, the increased storage capacity is expected to attract new businesses and investments to the country, further stimulating economic growth.
Djibouti's strategic location at the nexus of the Red Sea and the Bab-el-Mandeb strait makes it a critical gateway for trade between Africa, Asia, and Europe. The country has made significant investments in recent years to develop its infrastructure, transforming itself into a major logistics hub. The new bulk liquid storage terminal project, supported by ADCB's investment, is another step towards solidifying Djibouti's position as a key player in the global trade landscape.