Massive port privatisation on cards for Aqaba

Addressing the Seatrade Middle East Maritime (SMEM) conference in Dubai, Ahmad Armoush, Group Chairman, Jordan National Shipping Lines - East Gulf Shipping said the huge privatization programme would spur marine activities in the Port of Aqaba.

Due for privatization before June next year, said Armoush, are: the passenger terminal with the aim of expanding passenger RoRo and cruise liner calls; the sugar refinery berth which could be used to refine and re-export one million tons; the specialized liquid terminal for chemicals and oil which could be transformed into a Red Sea hub and the general cargo port boosting export capacity for Jordanian phosphate and potash.

"The opportunities are there for grabs and we expect further development opportunities in the rest of the region as it grows even larger providing fertile grounds for considerable shipping investments,"

said Armoush.

The Jordanian maritime expert said the Port of Aqaba, previously in public sector hands since 1952, is now "evolving into a very well-planned, well-structured and well empowered port undergoing complete and comprehensive renovation." Aqaba is currently the only port serving Jordan's export and import trade currently totalling about 18-20 million tons a year.

Armoush also revealed that the marine services of the Port of Aqaba has now been handed over to a consortium of Jordan National Shipping Lines and Sharjah's Lamnalco through a joint venture agreement with the Aqaba Development Company.

"This will open the door for new investments to purchase six new tug boats and providing highly efficient and professional services to the shipping community," said Armoush.

"The port will also witness liberalization of imports and oil products trade by the end of 2007 with the oil terminal being privatized and a new oil refinery offered for private sector development. New storage facilities for crude and other oil products are within the Jordanian Government's immediate development plans, bringing opportunities to the shipping and maritime industries to work closely with investors and suppliers."

Armoush was speaking on the opening day of SMEM which runs at the Dubai World Trade Centre until Wednesday night (December 6).

A major maritime exhibition is running alongside the conference and features over 250 exhibitors from 32 countries and nine national pavilions.

SMEM 2006, which is the largest in the event's history is organized by Seatrade - the publishing and events house. It is held under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai.