Hong Kong-based Hutchison Ports has signed a 25 year concession agreement to develop a container terminal facility at Saqr Port in the north of the United Arab Emirates, the government of Ras Al Khaimah said on Monday.
Under the agreement, Hutchison Ports will operate a four berth, 350,000 twenty foot equivalent unit (TEU) capacity terminal, the Ras Al Khaimah government said in a statement.
Saqr Port is the main commercial port in Ras Al Khaimah, the UAE’s most northern emirate. The port is owned by the Ras Al Khaimah government. (Reuters)