Dubai Ports International (DPI) in 30 year-pact with Fujairah port
DUBAI — Dubai Ports International (DPI) has been awarded a 30 year concession to develop and operate the container terminal at the port of Fujairah.
The agreement between the Fujairah Port Authority and DPI also includes an option to mutually extend the concession by a further 20 years, potentially taking the contract through to 2055.
Fujairah’s deep-water facility has over 1.3km of quay and DPI’s total projected investment in the terminal will be in excess of $155 million, including new super-post panamax ship-to-shore gantry cranes and yard handling equipment to lift annual capacity to an eventual 1.7 million TEU. In January 2005, DPI signed MoUs with the port authorities of Abu Dhabi and Fujairah port, which paved the way for greater synergies in the UAE’s container terminal operations.
In 2004, DPI achieved year on year growth of 26.5 per cent at its four international port operations - Jeddah, Djibouti, Vizag and Constantza. Subsequently, in December 2004, DPI agreed to acquire CSX World Terminals, a leading international terminal developer and operator with operations in Asia, Europe, Australia and Latin America. This transaction was completed on 22 February 2005 and makes Dubai Ports, which includes DPI and DPA (Dubai Ports Authority), a top 6 global ports operator.
In a statement, Shaikh Saleh Mohammed Hamad Al Sharqi, chairman, Fujairah Port Authority, said this was an exciting development for Fujairah. “We believe our facility has the potential to become a leading regional container facility, reaching projected volumes. We are fully committed to making Fujairah fulfill this potential in partnership with DPI,” he said, adding that Fujairah port would continue to function independently as multi-purpose facility port catering to all non-container business activities, including general bulk cargoes, oil terminals and other marine services.
Sultan Ahmed bin Sulayem, executive chairman of Dubai Ports, who expressed delight in announcing the agreement, said in a statement that “the concession will enable us to streamline operations at the major container facilities of the UAE, and offer enhanced services to our customers.”
“We are proud to have been selected by the Fujairah Port Authority to develop this key UAE trade centre,’ he added.
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