Middle East – Page 26
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Haifa upgrades to 24-hour working
Haifa Port Company Ltd commenced 24-hour working as from February, effectively doubling the amount of time the terminal is open. The pilot programme is aimed at reducing congestion, with up to 300 containers shifting from daytime to night time handling.
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NewsIsrael port ranking blow
A World Bank study has found that Israeli facilities lack efficiency compared with those in other countries, ranking them 33 out of 150.
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NewsCarmel port construction choas
Dredging work on Israel''s Carmel port that was halted by the Ministry of Environmental Protection has not delayed development plans of the port, according to Israel Port Company.
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Damietta invests $680m
The Egyptian port of Damietta is to invest $680m to improve existing installations and construct new quays to boost capacity to 4.5m teu.
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JPC development plan
Jordan Ports Corporation has announced a three-year, $69m development plan involving upgrades to infrastructure, construction work, quay rehabilitation and improvements to dock services. In 2007, Jordan''s ports handled 17.8m tonnes, a 4% improvement over the previous year.
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Chinese land Saudi contract
China''s Harbour Contracting Engineering Company in partnership with local company the Rafid Group has been awarded a $586.7m contract to undertake infrastructure work at Saudi Arabia''s proposed Ras Al-Zour port. To be completed by 2010 this development will serve local fertiliser and aluminium smelting complexes.
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NewsBeirut looks to the sea
The port of Beirut authority is considering a $40m project to reclaim an area of 150,000 sq m.
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NewsKGL rolls out ports fund
KGL Investment Company has established a $500m fund to finance port projects in emerging markets.
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NewsSaudi seals new port construction deal
The Saudi Ports Authority has signed a $586m contract with China Harbour Engineering Company (CHEC) for the design and construction of a new port in Ras Al-Zour following an international bidding process.
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NewsQatar throws $6bn at port development
The Gulf state of Qatar is to spend $6bn on developing a deep sea port to the north of Mesaieed covering an area of 20 sq km. Initial capacity will be 2m teu, rising to 6m teu by 2030, when the entire complex will be fully operational.
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Foreign groups linked to Iranian investment
ICTSI and India's Hinduja Group have both been linked with a possible 45% equity acquisition involving Iran's Tidewater Middle East Marine Services Company, which is currently owned by the Ports and Shipping Organisation.
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Port Rashid to close?
Part of Dubai''s Port Rashid may be forced to close at the end of next year because of its inability to accommodate the largest containerships currently operating in the Gulf.
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NewsMaersk first into TICT
Maersk was the first shipping line to make use of the new ICTSI''s Tartous International Container Terminal in Syria. Investment of $37m is being made in the terminal, which is equipped with two Liebherr mobile harbour cranes.
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Khalifa contracts confirmed
Abu Dhabi Ports has signed a $1.5bn contract with an international consortium to undertake the first phase construction of Khalifa port. Work will consist of excavating 47m cu m of sand, the construction of 3.2 km of walls and platforms and the creation of a 7.3 km breakwater.
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Rotterdam mulls Oman investment
The Port of Rotterdam is considering investing ¢ 170m ($240m) for the expansion of Sohar port in Oman even as it extends its own facilities to accommodate increased traffic from Asia.
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DP World dips into Egypt
DP World has paid $670m for a 90% stake in ECHCO, the majority shareholder in Egypt''s Sokhna Port Development Company. The remaining 10% of the equity is held by Amiral Holdings.
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DP World in IPO
DP World is to undertake an initial public offering in which it intends to float 20% of its capital, which will be made available to global institutional investors, Gulf Cooperation Countries'' nationals and United Arab Emirates'' residents.
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Loan for Damietta
Damietta International Port Company, made up of a consortium headed by KGL Port international of Kuwait, has obtained a loan worth $480m organised by Ahli United Bank and Arab Banking Corporation. This will fund construction of the proposed container terminal and form part of an overall investment package of $1bn.
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Investment continues in Israeli ports
Israel Ports Development & Assets Company Ltd has put forward a $130m investment plan for 2008, which must now be approved by the government. At least 70% of the money will be allocated to container terminal and breakwater development at both Ashdod and Haifa.
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Private investment in Iranian ports
Since the start of its financial year on March 21, 12 private companies have signed contracts worth $181m to operate in nine Iranians ports, according to official figures.
