The Hong Kong-based port operator has agreed to partner with NAWAH Port Management L.L.C. (NPM) to manage existing and future operations at the Port of Basra in southern Iraq.
“We view NPM’s operations at the Port of Basra as an integral piece of our expanding Middle East strategy and are excited about the opportunities this partnership creates,” said Andy Tsoi, Hutchison Ports’ managing director, Middle East and Africa.
“We believe strongly in the growth story of Basra, Iraq, and the Middle East as a whole and are delighted to have the opportunity to participate in and support the growth of the business over the long term.”
Eric Clark, CEO of NPM, added: “We are delighted for the opportunity to partner with one of the leaders in the industry – a company which shares our vision of NPM as both a unique maritime asset in southern Iraq as well as strategic platform in the epicenter of one of the fastest growing regions in the world.”
The partnership will see Hutchison Ports assume oversight of day-to-day commercial and operational activities at NPM, operating under the name of Hutchison Ports Basra.
NPM is a containerised terminal operator at the Port of Basra located along the Shatt Al Arab waterway in Iraq. Its close proximity to the city centre and major oilfields and its operations are viewed by many as key competitive advantages versus other ports in the region.