DP World commences operation at Aden port
Dubai Ports World has officially taken over container handling operations at the port of Aden, completing a deal originally announced in July.
The deal involves a joint venture partnership with the Yemen Gulf of Aden Port Corp., which also includes prominent Saudi Arabian company House of Invention International. The agreement includes the lease of both Aden Container Terminal and of nearby Ma'alla Container Terminal, and a commitment by the joint venture to invest about $220 million in further developing the port. This includes building a new 400-meter berth extension to Aden Container Terminal within five years.
Annual capacity at Aden port is about 700,000 TEUs and is expected to grow to around 1.5 million TEU by 2012. The joint venture plans to further expand capacity as dictated by market demand.
The terminal takes DP World's global network to 46 marine terminals in 26 countries.