MEA key to Hutchison Ports’ growth strategy
Hutchison is banking on Middle East success
Hutchison Ports’ managing director for the Middle East and Africa region has spoken out about the importance of the Chinese governmental initiative One Belt, One Road to the company’s growth strategy.
According to Andy Tsoi, managing director at Hutchison Ports for the area, the business currently has 22 locations in 18 countries that sit along the One Belt, One Road route, an initiative put forward by Chinese President Xi Jinping to encourage connectivity and co-operation between Eurasian countries.
Commenting on the container port business’ growth strategy, Mr Tsoi said: “Ports in the Middle East and African region are important in our growth strategy in play.
“We operate six container terminals in five countries in the Middle East, Africa, and South Asia. We are in Pakistan, Oman, Ajman in UAE, Saudi Arabia and Tanzania in East Africa. We manage 18 container berths and eight general cargo, ro-ro berths with a total quay length of over 6.8 kilometres and 270 hectares of land.”
Mr Tsoi went on to add: “In the Middle East, there seems to be no shortage of mega infrastructure projects and labour and land never seems to run out. We are continuing to look for opportunities to expand in the region.”
The Maritime Silk Road is one of the two components of the Chinese governmental economic development initiative One Belt, One Road.
The shipping component seeks to foster investment and collaboration across the length of the historic Silk Road, the ancient network of trade routes, including maritime routes, that connected the Korean Peninsula and Japan to the Mediterranean Sea.
Hutchison Ports already wields strong influence in the region, with terminals situated in locations including Karachi in Pakistan, Dar es Salaam in Tanzania and Sohar in the Gulf of Oman.
Commenting on Hutchison Ports Sohar, Mr Tsoi said: “Close to the booming economies of the Gulf states, Iran, Pakistan and India, Hutchison Ports Sohar enjoys the most strategic of locations of any port in the Gulf region.”
“The port lies at the heart of the Arabian Triangle of rapid economic growth – an area encompassing the regional powerhouses of Abu Dhabi, Dubai and Sohar,” he added.