Middle East

JordanPorts Corporation has announced a three-year, $69m development planinvolving upgrades to infrastructure, construction work, quayrehabilitation and improvements to dock services. In 2007, Jordansports handled 17.8m tonnes, a 4% improvement over the previous…

ChinasHarbour Contracting Engineering Company in partnership with localcompany the Rafid Group has been awarded a $586.7m contract toundertake infrastructure work at Saudi Arabias proposed Ras Al-Zourport. To be completed by 2010 this…

ICTSI and IndiasHinduja Group have both been linked with a possible 45% equity acquisitioninvolving IransTidewater Middle East Marine Services Company, which is currently owned by thePorts and Shipping Organisation.

Part of Dubais 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.

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…

The Portof Rotterdam is considering investing ¢ 170m ($240m) for the expansionof Sohar port in Oman even as it extends its own facilities toaccommodate increased traffic from Asia.

DP World has paid $670m for a 90% stake in ECHCO, the majority shareholder in Egypts Sokhna Port Development Company. The remaining 10% of the equity is held by Amiral Holdings.

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…

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…

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…

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.

Qatars Finance Minister has announced the construction of a new $5.5bn port at Mesaieed, located to the south of Al Wakra. Driving the project is the perceived need to bring down import…

DP World is to raise a $2.7bn syndicated loan to finance overseas investment and gentle corporate costs. 

DP World believes it will be able to increase throughput at Jebel Ali to 40m teu within four years as a result of expanding regional trade.

DP World has decided not to go ahead with a $5bn flotation on the London Stock Exchange as a means of funding future expansion and acquisition projects because it believes it will…