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Dubai to invest $32-billion to build world's largest airport

[email protected] (PTI)
November 30, 2014

Mumbai, Nov 30: To further secure its position as the world's aviation hub, Dubai Airports is building a whopping USD 32—billion greenfield airport at the upcoming Dubai World Central, 30 km off the present international airport which already is the second busiest in the world.dubai airport

The proposed new airport will become the world's largest aviation facility on completion and will have five runways which all will be simultaneously operational, all A380-compatible with a length of 4.5 km each.

“We are planning a USD 32—billion brand new airport at the Dubai World Central at Al Maktoum, 30 km off the present Dubai facility. In the first phase, the new airport will be able to handle 120 million passengers, which will go up to 200 million by 2020, when the project is completed,” Dubai Airports Corporate Communications Head Julius Baumann told media persons.

“On completion, the new airport will be the world's largest airport, with each concourse the size of seven football fields and have five runways which all will be simultaneously operational, all A380-compatible,” Mr. Baumann said.

The other features include 200 aircraft stands for wide bodied aircraft, four concourses connected via six airport trains to two terminals, which in turn will be linked to the city's metro network. When complete, the mega-hub will have total annual capacity exceeding 200 million passengers and 12 million tonne of freight.

The existing Al Maktoum International opened its doors to passengers on October 27, 2013 and three airlines are operating from here. It has one A380 capable runway, 64 remote stands, one cargo terminal with annual capacity for 250,000 tonne and a fully operational passenger terminal building designed to accommodate 5 million passengers annually.

The Dubai International Airport is the world's second busiest airport after the London Heathrow and is on course to become the global aviation hub, thanks to its geographical location and the availability of cheap fuel.

The first phase of the new airport includes a single A380 compatible runway, a passenger terminal with capacity of 5 million passengers which is expandable to 7 million; a cargo terminal with a capacity of 250,000 tonne per annum and expandable to 600,000 tonne and a 92-metre air traffic control tower.

The state-owned Dubai Airports already operates the Dubai International Airport in the heart of the Arabian megapolis and the Al Maktoum International Airport at the upcoming Dubai World Central (DWC).

The DWC is a 140 sq km new international city being built to de-congest the present city, Dubai Airports' Marketing & Corporate Communications Manager Zaigham Ali said, adding the work on new airport will begin early next year.

Apart from the new airport plan, the Emirate is also expanding the Dubai International Airport with a USD 7.8 billion investment to take the capacity to 100 million by 2020. This project was started in 2011 and will be completed by 2016.

The expansion of the Dubai International include a new concourse (Concourse D), expansion of Terminal 2 to twice its current capacity, refurbishment of Terminal 1, and additional aircraft stands, taxiways and aprons among others.

Dubai International, Mr. Baumann said handled 66.43 million passengers in 2013, and has being growing 15.5 per cent per annum since its launch in 1960. In 2013, it was named the second busiest airport in the world after the London Heathrow.

Mr. Ali said India is the largest source market for the airport, with an airline network that connects Dubai with 18 cities in the country.

In 2013, the airport saw a 14.3 percent increase in passenger numbers from India at 8.5 million and in the first 9 months of this year, the number has already crossed 7 million.

Mr. Ali added the company is confident of crossing the last year's mark this year.

Explaining the rationale for a gigantic new airport, Mr. Baumann said the airport's forecast figures for unconstrained passenger traffic show 126 million passengers by 2020, and 300 million passengers by 2050.

Additionally, the Terminal 2 will double in capacity by 2015. Concourse D of the airport, slated to open by mid 2015, will provide for 100 more aircraft and taking the figure up to 80 million passengers.

In all, the expansion projects will take the airport's passenger capacity to a little over 100 million passengers, Mr. Ali said.

With a built-up area of 1,972,474 sqm, the Dubai International Airport comprises three terminals and ranks among the world's top two busiest airports for international passengers, serving over 125 airlines flying to over 260 destinations, as per the Airports Council International.

On the economic impact of the aviation sector in Baumann, quoting an Oxford Economics report said, aviation will contribute USD 53.1 billion to Dubai's economy, which is 37.5 per cent to its GDP and will support over 750,000 jobs by the turn of 2020.

The aviation sector as a whole contributed USD 26.7 billion to the Dubai economy in 2013, which was almost 27 per cent of the national GDP and supported 416,500 jobs accounting for 21 per cent of the Emirates' total employment.

Passenger traffic in September totalled 5,942,628 compared to 5,407,326 recorded in the same month last year, an increase of 9.9 per cent. January—September rose 6.2 per cent to 52,422,547, up from 49,379,165, while in 2013, the passenger traffic stood 66,431,533, up 15.2 per cent from 2012.

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News Network
April 21,2020

Global oil markets remained under intense pressure on Tuesday, with Brent crude dropping below $20 per barrel for the first time in 18 years while other major benchmarks across the world tumbled. 

Brent, the international crude marker, slipped to $18.10, indicating that markets see no immediate let-up to the collapse in oil demand that sent some US oil benchmarks plunging under $0 for the first time on Monday, leaving producers paying for buyers to take their oil away while available storage is scarce.

Coronavirus has sent the oil sector into a state of crisis, with lockdowns implemented by authorities to smother the outbreak slashing demand for crude by as much as a third.

Contracts for the US benchmark West Texas Intermediate for delivery next month tumbled as low as minus $40 a barrel on Monday. Analysts at Citi warned that “if global storage worsens more quickly, Brent could chase WTI down to the bottom”.

The collapse in the May WTI contract was partly a technical product of the fact that it expires on Tuesday, meaning trading volumes were low and making the contract for June delivery more noteworthy, analysts said. That contract held above $20 a barrel on Monday but slid as much as 42 per cent on Tuesday to trade at lows of $11.79, suggesting the blowout in the May contract was more than a blip and that the entire global oil market faced challenges.

Goldman Sachs analysts said the June contact was likely to face downward pressure in the coming weeks, pointing to the “still unresolved market surplus”.

“As storage becomes saturated, price volatility will remain exceptionally high in coming weeks,” they said. “But with ultimately a finite amount of storage left to fill, production will soon need to fall sizeably to bring the market into balance, finally setting the stage for higher prices once demand gradually recovers.”

Warren Patterson, head of commodities strategy at ING, said it was likely that “storage this time next month will be even more of an issue, given the surplus environment”.

“And so in the absence of a meaningful demand recovery, negative prices could return for June,” he added.

European equities traded lower, partly dragged down by weaker energy stocks. The continent-wide Stoxx 600 was down 1.9 per cent, with its oil and gas sub-index dropping 3.3 per cent. In London the FTSE shed 1.7 per cent, while Frankfurt’s Dax slid 2.3 per cent. 

Equities were also broadly lower in Asia, with futures tipping US stocks to fall 1 per cent when trading in New York begins later.

On Wall Street overnight, the S&P 500 closed down 1.8 per cent, partly because of weakness in energy shares, but also due to increased pessimism over the time it will take for countries to emerge from lockdowns.

In fixed income, the yield on the 10-year US Treasury fell 0.03 percentage points to 0.585 per cent as investors retreated to the safety of the debt.

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News Network
February 23,2020

Mangaluru, Feb 23: Karnataka Minister for Fisheries and Religious Endowment Kota Shrinivas Poojari on Sunday said that there will be no shortage of water during the summer season in Dakshina Kannada district as per a review done by the district administration and the Panchayati Raj Department.

He said that periodic review will be conducted and based on that appropriate decisions will be taken.

Speaking to reporters on Sunday, February 23, Poojari said that the main source of water for Mangaluru, the Thumbe vented dam, has a steady inflow of water.

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Shodhan Prasad
May 14,2020

Dubai: The father of a 16-year old girl who came on a visit visa to the UAE to visit him is desperate for help as she has been hospitalised, even as he has been rendered jobless.

On February 6, Amber D’Couto flew into Dubai from Mangaluru, India, along with her older sister, Alison, 19. The girls wanted to visit their dad Vivian D’Couto who was working in an automobile company at Jebel Ali.

The father was overjoyed to meet his girls until things took an ugly turn.

Two months into her stay, Amber fell seriously ill, even as D’Couto was served a termination letter by his company.

D’Couto said his daughter, a Grade 10 student, was perfectly healthly but suddenly developed high fever and began vomiting. She was rushed to a private hospital in Qusais which could not accommodate her because of the ongoing COVID-19 situation.

On April 30, she was admitted to another private hospital in the same area. After testing negative for COVID-19 thrice, she was diagnosed with acute pancreatis and Rheumatoid fever.

While the girl remains in hospital, the bill has spiralled to over Dh50,000, D’Couto said, adding that without a job now, he had no means to pay the huge amount.

“Amber is a very sweet child and a very bright student. She was living a very healthy life prior to coming to Dubai. But she is so ill now and under round-the-clock vigil in the ICU. The treatment for her condition is very specific and costly.”

A worried man, he said: “My daughter was on a visit visa and she had no insurance. We appeal to compassionate people to help us out in this difficult hour. Due to the current situation, I have lost my job and I am unable to pay for her medical expenses. Her condition has not stabilised yet and I am taking each day as it comes. I trust the doctors to help her recover, and we hope to be repatriated to India at the earliest so she can get further medical care.”

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