Aden to renegotiate DP World concession?

DP World Aden appears to have fallen short of its obligations so far DP World Aden appears to have fallen short of its obligations so far
Industry Database

Port Strategy has learnt from an industry source that there is speculation that the Yemeni government may be set to renegotiate the concession agreement signed by DP World and Aden Port Authority.

The source stated that DP World stands accused of not having invested the agreed US$220 m in the port and also of missing throughput targets last year of 900,000 teu – as stipulated by the original agreement.

DP World and the Yemen Gulf of Aden Port Corp formed a partnership back in 2008 to operate and develop the container facilities at the Port of Aden within five years.

The Yemeni transport minister, Waaed Bazeeb, told Reuters that DP World has far fallen short of raising capacity at the container port to the target of 900,000 last year and that the actual figure was no more than 140,000 containers.

Also, in accordance with the original agreement, the new infrastructure promised by DP World has not yet come to fruition – including the build of a new 400 key berth extension to Aden Container Terminal.

DP World refused to comment on the issue today.

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