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 $US 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, giving consistent and equal service levels for customers ultimately providing choice with confidence.
In 2004, DPI achieved year on year growth of 26.5% 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.
Sheikh Saleh Mohammed Hamad Al Sharqi, Chairman Fujairah Port Authority, commented:
"This is 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 fulfil this potential in partnership with DPI. Fujairah Port will 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 Dubai Ports, commented:
"On behalf of DPI, I am delighted to be able to announce this important agreement. This concession will enable us to streamline operations at the major container facilities of the UAE, and offer enhanced service levels to our customers. We are proud to have been selected by the Fujairah Port Authority to develop this key UAE trade centre."
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DPI signs 30 year concession with Fujairah Port Authority
- United Arab Emirates: Wednesday, March 16 - 2005 at 14:25
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Dubai Ports International 'DPI', one of the world's leading port operators, has been awarded a 30 year concession to develop and operate the container terminal at the Port of Fujairah, in the United Arab Emirates.
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Posted by Anne-Birte Stensgaard, Senior News EditorWednesday, March 16 - 2005 at 14:25 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Tue Sep 05 2006.
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For further information please contact:
Middle East
Bell Pottinger Communications
Tom Mollo
+9715 0550 4203
+971 4367 2256
Robin Tozer
+44 7887 721 295
+44 207 861 3891
Dubai Ports (comprising of Dubai Ports International "DPI" and Dubai Ports Authority, "DPA") owns, operates and manages container terminals and ports around the world.
In 2004, the terminals operated by Dubai Ports handled over 8 million TEUS which includes ports in India (Port of Visakhapatnam), Saudi Arabia (Port of Jeddah), Djibouti (Port of Djibouti) and Romania (Port of Constantza) and the home terminals of Jebel Ali and Port Rashid. Through a sister company, DPI also manages the free zones of Malaysia's Port Kalang and the Tangier Free Zone.
DPI's unique cross-sector expertise offers solutions in all aspects of port operations, ultimately driving efficiency and financial returns for port users. DPI also enables its customers to experience the same high level of service that they have come to expect when their vessels call at Dubai. DPA is known for its ability to provide a superior level of service to shipping lines at its flagship domestic operations of Port Rashid and Jebel Ali and has been voted "Best Seaport in the Middle East" for 10 consecutive years.
DPA ranks within the largest container ports worldwide in volume and has in recent years embarked on a significant expansion programme. Over the next 10 years, DPA is planning to increase capacity from current 6.5 million TEUS to over 20 million TEUS. Over the last three years, DPA's annual growth in throughput has averaged 23%. In December 2004, DPA reported 24% growth in its handling operations and set a cargo traffic record of 6.4 million TEUS for the year. Dubai was ranked the 10th largest port operation in the world. DPI in its four international port operations - Jeddah, Djibouti, Vizag and Constantza - achieved 26.5% growth year on year in 2004.
On 8 December 2004, DPI signed a definitive agreement with CSX Corporation to acquire the international terminal business conducted by CSX World Terminals (CSX WT) and other related interests. CSX WT is a leading international terminal developer and operator with operations in Asia, Europe, Australia and Latin America. With completion of this transaction, DPI ranks as a top 6 global ports operator. On 30 December 2004, CSX WT announced that it had increased its stake in Asia Container Terminals ("ACT") to 68.6%. ACT is the owner and operator of the premier terminal CT8W in Hong Kong.
In addition to DPI's established operations it is undertaking a number of major development projects around the world including the construction of India's largest single operator container terminal at Vallarpadam at Kochi Port and the largest capacity and deepest port in South Korea at Pusan New Port.
DPI has been at the forefront of Dubai's extraordinary transformation into one of the world's leading trade and commerce hubs.
Middle East
Bell Pottinger Communications
Tom Mollo
+9715 0550 4203
+971 4367 2256
Robin Tozer
+44 7887 721 295
+44 207 861 3891
Dubai Ports (comprising of Dubai Ports International "DPI" and Dubai Ports Authority, "DPA") owns, operates and manages container terminals and ports around the world.
In 2004, the terminals operated by Dubai Ports handled over 8 million TEUS which includes ports in India (Port of Visakhapatnam), Saudi Arabia (Port of Jeddah), Djibouti (Port of Djibouti) and Romania (Port of Constantza) and the home terminals of Jebel Ali and Port Rashid. Through a sister company, DPI also manages the free zones of Malaysia's Port Kalang and the Tangier Free Zone.
DPI's unique cross-sector expertise offers solutions in all aspects of port operations, ultimately driving efficiency and financial returns for port users. DPI also enables its customers to experience the same high level of service that they have come to expect when their vessels call at Dubai. DPA is known for its ability to provide a superior level of service to shipping lines at its flagship domestic operations of Port Rashid and Jebel Ali and has been voted "Best Seaport in the Middle East" for 10 consecutive years.
DPA ranks within the largest container ports worldwide in volume and has in recent years embarked on a significant expansion programme. Over the next 10 years, DPA is planning to increase capacity from current 6.5 million TEUS to over 20 million TEUS. Over the last three years, DPA's annual growth in throughput has averaged 23%. In December 2004, DPA reported 24% growth in its handling operations and set a cargo traffic record of 6.4 million TEUS for the year. Dubai was ranked the 10th largest port operation in the world. DPI in its four international port operations - Jeddah, Djibouti, Vizag and Constantza - achieved 26.5% growth year on year in 2004.
On 8 December 2004, DPI signed a definitive agreement with CSX Corporation to acquire the international terminal business conducted by CSX World Terminals (CSX WT) and other related interests. CSX WT is a leading international terminal developer and operator with operations in Asia, Europe, Australia and Latin America. With completion of this transaction, DPI ranks as a top 6 global ports operator. On 30 December 2004, CSX WT announced that it had increased its stake in Asia Container Terminals ("ACT") to 68.6%. ACT is the owner and operator of the premier terminal CT8W in Hong Kong.
In addition to DPI's established operations it is undertaking a number of major development projects around the world including the construction of India's largest single operator container terminal at Vallarpadam at Kochi Port and the largest capacity and deepest port in South Korea at Pusan New Port.
DPI has been at the forefront of Dubai's extraordinary transformation into one of the world's leading trade and commerce hubs.
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