Middle East – Page 26
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Khalifa contracts confirmed
Abu Dhabi Ports has signed a $1.5bn contract with an international consortium to undertake the first phase construction of Khalifa port. Work will consist of excavating 47m cu m of sand, the construction of 3.2 km of walls and platforms and the creation of a 7.3 km breakwater.
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Rotterdam mulls Oman investment
The Port of Rotterdam is considering investing ¢ 170m ($240m) for the expansion of Sohar port in Oman even as it extends its own facilities to accommodate increased traffic from Asia.
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DP World dips into Egypt
DP World has paid $670m for a 90% stake in ECHCO, the majority shareholder in Egypt''s Sokhna Port Development Company. The remaining 10% of the equity is held by Amiral Holdings.
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DP World in IPO
DP World is to undertake an initial public offering in which it intends to float 20% of its capital, which will be made available to global institutional investors, Gulf Cooperation Countries'' nationals and United Arab Emirates'' residents.
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Loan for Damietta
Damietta International Port Company, made up of a consortium headed by KGL Port international of Kuwait, has obtained a loan worth $480m organised by Ahli United Bank and Arab Banking Corporation. This will fund construction of the proposed container terminal and form part of an overall investment package of $1bn.
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Investment continues in Israeli ports
Israel Ports Development & Assets Company Ltd has put forward a $130m investment plan for 2008, which must now be approved by the government. At least 70% of the money will be allocated to container terminal and breakwater development at both Ashdod and Haifa.
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Private investment in Iranian ports
Since the start of its financial year on March 21, 12 private companies have signed contracts worth $181m to operate in nine Iranians ports, according to official figures.
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Major new Qatari port
Qatar''s Finance Minister has announced the construction of a new $5.5bn port at Mesaieed, located to the south of Al Wakra. Driving the project is the perceived need to bring down import costs.
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DP World IPO?
DP World is to raise a $2.7bn syndicated loan to finance overseas investment and gentle corporate costs.
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Jebel Ali to see major hike in trade
DP World believes it will be able to increase throughput at Jebel Ali to 40m teu within four years as a result of expanding regional trade.
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Big spend in Israeli ports
Israel Ports Development & Assets Co Ltd has published a tender worth $40m for the design of new port infrastructure.
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NewsHistoric first for Israel privatisation
Haifa will benefit from Israel's first privately-owned portThe permit - the first of its kind in Israel - was granted by the Finance and Transport ministries. However, as part of the terms and conditions of the permit, Israel Shipyards is only allowed to handle 5% of all Israeli imports. But ...
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DAMIETTA TERMINAL AWARD
Two Egyptian construction companies, Arab Contractors and Archirodon, have been awarded a $240m contract to build 2.3 km of berthing line at a new container terminal at the port of Damietta.
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DP World ditches LSE flotation
DP World has decided not to go ahead with a $5bn flotation on the London Stock Exchange as a means of funding future expansion and acquisition projects because it believes it will now be cheaper to issue debt.
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NewsNew mobile cranes for ICTSI Syria
ICTSI subsidiary Tartous Inter-national Container Terminal has contracted manufacturer Liebherr for two new mobile harbour cranes, a first for Syria. Tradition-ally, container handling in the country has been undertaken by geared vessels.
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DP World commits to long-term financing
DP World plans to issue both conventional bonds and Islamic bonds as a means of extending its debt maturity profile.
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Saqr to boost berthage
Four new berths have been commissioned at Saqr Port in the United Arab Emirates. These 795 metre long berths will bring to 12 the number of operational berths available to shipping. The port recently opened a new 350,000 teu container terminal operated by KGL Ports.
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Ashdod investigated for nepotism
Israel' s State Comptroller is investigating reports of nepotism at Ashdod Port Company Limited. Of concern is the fact that most employees being hired already have family members working for the company. No new hiring will take place at the port until the report conclusions have been released.
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PSC SEEKS CONTRACTS
Oman-based Port Services Corporation, which operates and manages Port Sultan Qaboos, has revealed that it is seeking additional port management possibilities both within Oman and also abroad. Initially, negotiations are to be made for the operational and management contract for Khasab Port.
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KGL AND TATWEER JV
KGL Ports International has signed a memorandum of understanding with Qatar-based Tatweer Infrastructure Company to undertake joint port infrastructure projects wherever they present themselves.
