AMMAN — Aqaba Development Corporation (ADC) and Abu Dhabi Ports Group signed on Thursday a strategic agreement to manage and operate the Aqaba Multipurpose Port.

 

The agreement was signed by CEO of Aqaba Development Corporation (ADC) Hussein Safadi, and Regional Chief Executive and Officer of AD Ports Group Ahmed Al Mutawa.

 

It stated that all port assets and land remaining owned by the government through the ADC, with Aqaba Ports Management and Operation Company continuing with its existing cadres and managing other port facilities and sites.

 

The strategic agreement includes a direct capital investment exceeding JD130 million during the concession period, and expected cumulative returns exceeding JD300 million throughout the duration of the agreement, which enhances the sustainability of revenues and raises the "added value" of the port's assets.

 

The agreement aims to develop the port system and improve the efficiency of operation and handling, through including of Terminal Operating Systems (TOS), and the development of operational planning and management of berths and yards.

 

These will contribute to reducing handling time, raising the productivity of berths, improving adherence to schedules, and attracting new types of goods to contribute to raising the competitiveness of Jordanian trade, according to ASEZA statement.

 

The agreement also strengthens the position of the Port of Aqaba as a regional and global hub by; developing logistics corridors for neighboring countries, which will be reflected on reducing logistics costs for importers and exporters.

 

This will be reflected especially in the field of trade in the shipping of vehicles on (Ro-Ro) ships, storage and linking them to global markets, in addition to supporting the transport, shipping, storage, customs and inspection sectors.

 

The agreement includes the development of human resources and building the capacities of Jordanian cadres administratively and technically in the fields of port services, logistics and safety.

 

The strategic agreement also includes developing the port's infrastructure, maintaining facilities, adding the latest equipment, and preparing the port for future transformations in the green economy and energy.

 

This partnership has as well a series of investment projects implemented by the ASEZA through its arm, ADC, most notably the development, management and operation of King Hussein International Airport.

 

The investment projects include as well the expansion of the Aqaba Container Terminal (ACT), the development of the Durra Border Crossing, in addition to the projects of power ports, dry casting, and passenger terminals.

 

The multi-purpose port handles various types of general cargo, grain, livestock and project cargo, with an annual capacity of about 11 million tons, supported by nine berths with a total length of 2 kilometres and a draught of 13.5 metres.

 

By 2025, the port's facilities handled more than 5 million tonnes of cargo, in addition to about 85,000 units of onboard vehicles (Ro-Ro) and about one million head of livestock.

 

The signing ceremony was held at ASEZA, in the presence of Counselor and Chargé d'Affaires of the UAE Embassy in Amman Hamad Al Matrooshi, Chief Commissioner of ASEZA Shadi Majali, and Managing Director and Group CEO of AD Ports Group, Mohamed Al Shamisi, according to an official statement.