Business | Shipping
DP World takes over operations at the busy Yemeni port of Aden
Global marine terminal operator DP World has officially taken over container handling operations at the port of Aden, completing the deal announced in July.
- Staff Report
- Published: 23:22 November 6, 2008
Dubai: Global marine terminal operator DP World has officially taken over container handling operations at the port of Aden, completing the deal announced in July.
This takes DP World's global network to 46 marine terminals in 26 countries. In a joint venture partnership with the Yemen Gulf of Aden Port Corporation, which also includes prominent Saudi Arabian company House of Invention International, DP World will operate and further develop container handling facilities in the port of Aden.
Shaikh Abdullah Bug-shan of House of Invention International is Chairman of the joint venture company. The agreement includes the lease of both Aden Container Terminal and of nearby Ma'alla Container Terminal, and a commitment by the joint venture to invest about Dh808.03 million ($220 million) in further developing the port. This includes building a new 400 metre berth extension.
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