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FINANCIAL NEWS
DP World to develop Aden’s container port
12 Feb 2010
(MENAFN) Yemen and Dubai’s DP World joined hands for a major expansion of Aden’s container port, presuming growth in the country despite the recent political instabilities, Reuters reported.
In 2008, Yemen formed a joint venture with the port operator DP World to develop and operate the container port in the southern Yemeni city, located on the southwest border of the Arabian peninsula.
Head of Aden port management, Mohamed Mubarak Bin Aefan, commented that piracy and political instabilities are the main reasons for the declining number of ships received off the port.
Aden’s container capacity is expected to grow by 500,000 TEUs to 950,000 TEUs within three or four months as eight kilometers of storage area would be added, Bin Aefan said. DP World gave no value of the deal but Bin Aefan put it at $220 million.
Aden was one of the world’s biggest ports decades ago when steamers bound for the Suez Canal called in to refuel. Official data showed that the number of ships calling declined to 315 last year from 438 in 2008.
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