The parties had executed a Memorandum of Understanding in January 2005 for joint cooperation.
The agreement was signed by His Highness Sheikh Saeed Bin Zayed Al Nahyan Chairman of the Abu Dhabi Seaport Department, and His Excellency Sultan Ahmed Bin Sulayem Executive Chairman of Dubai's Ports, Customs and Free Zones Corporation (PCFZC).
"In line with the directives of the President His Highness Sheikh Khalifa Bin Zayed Al Nahyan and His Highness Sheikh Maktoum bin Rashid Al Maktoum, Vice President, Prime Minister and ruler of Dubai and the unlimited support given by His Highness General Sheikh Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Minister of Defense, we remain very pleased to join our efforts with Dubai Ports Authority to further grow the maritime sector in the UAE and expand the commercial activities at Mina Zayed. This is a culmination of several months of joint assessments and studies of the port and its positioning in the market". His Highness Sheikh Saeed Bin Zayed Al Nahyan Chairman of the Abu Dhabi Seaport Department said after the signing ceremony.
Under the terms of the agreement, DPA will take over the day to day management of operations of Mina Zayed which will be integrated into the global DPA network and be marketed jointly with other ports such as Jebel Ali and Mina Rashid. The operations at Mina Zayed will be handed over to DPA's management gradually over the coming months. As a result of the agreement and DPA's management, the Abu Dhabi and Dubai ports will be sharing operational resources, know-how, marketing and technical facilities.
"The combination of port assets of the emirates of Abu Dhabi and Dubai, and DPA's global network and standards of excellence will enable the UAE to further compete at the regional and international levels and benefit the national economy. We are committed to making this relationship a success for all parties involved," said Sultan Ahmed Bin Sulayem Executive Chairman of Dubai's Ports, Customs and Free Zones Corporation (PCFZC).
DPA is a fully-owned subsidiary of PCFZC and currently operates through its affiliated companies a number of ports globally including Jeddah, Djibouti, India and Romania, in addition to facilities in Asia, Australia, Europe and Latin America.
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Mina Zayed and Dubai Ports execute management agreement
- United Arab Emirates: Monday, August 01 - 2005 at 12:31
- PRESS RELEASE
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The Abu Dhabi Seaport Department and Dubai Ports Authority (DPA) executed today a Management Services Agreement for the operation of Mina Zayed.
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Posted by Anne-Birte Stensgaard, Senior News EditorMonday, August 01 - 2005 at 12:31 UAE local time (GMT+4)
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This article was updated on Mon Feb 19 2007.
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For further information please contact:
Dubai
Bell Pottinger Communications
Tom Mollo
+9715 0550 4203
London
Bell Pottinger Communications
Robin Tozer
+44 7887 721 295
+44 207 861 3891
About Dubai Ports
Dubai Ports (which comprises Dubai Ports Authority (DPA) and DPI Terminals (DPI)) has been at the forefront of Dubai's extraordinary transformation into one of the world's leading trade and commerce hubs. DPA is focused on the home ports at Rashid and Jebel Ali which DPI formed in 1999 (as Dubai Ports International) to export this success internationally. DPI initially applied its expertise to managing ports in the Middle East, India and Europe. Its first project was at Jeddah Islamic Port (in 1999), where it collaborated with its local partner on the management and operation of the South Container Terminal (SCT). In 2003, SCT was the first terminal in the Kingdom of Saudi Arabia to exceed 1 million TEU and volumes in 2004 exceeded 1.3 million TEU. DPI then went on to develop successful operations at the ports of Djibouti (2000), Vizag, India (2002) and Constanta, Romania (2003).
In January 2005 DPI transformed its network with the strategic acquisition of CSX World Terminals (CSX WT), the international terminal business of CSX Corporation, renaming itself DPI Terminals to reflect the change. This acquisition gave DPI a strong presence in Asia with major operations in Hong Kong and China as well as operations in Australia, Germany, Dominican Republic and Venezuela. Importantly for the future development and expansion of its network, DPI also acquired CSX WT's strong project pipeline.
One cornerstone project, which underlines DPI's position as a major player in Asia, is the development of Pusan Newport, South Korea. DPI has a 25% interest in and management contract for this 9-berth facility, which will have a capacity of 5.5 million TEU. It is currently under construction and is expected to be operational by 2006.
Other significant projects will strengthen the network with further developments in India and the Middle East. In February 2005 DPI signed an agreement with the Cochin Port Trust (CoPT) to construct, develop and operate an international container transshipment terminal at Vallarpadam, Kochi, India. It is the largest single operator container terminal currently planned in India and the first in the country to operate in a special economic zone. The new terminal will make Kochi a key centre in the shipping world reducing India's dependence on foreign ports to handle transshipment.
In March 2005, DPI was awarded a 30 year concession to develop and operate the container terminal at the Port of Fujairah, in the UAE. This concession will enable DPI to streamline operations at the major container facilities of the UAE, and further increase the choices available to its customers. In June 2005 DPI was short listed as preferred bidder to operate the container terminal at the Port of Aden.
DPI also has interests in logistics businesses in Hong Kong and China, notably ATL, the market leading logistics operator based at Kwai Chung, Hong Kong.
Dubai
Bell Pottinger Communications
Tom Mollo
+9715 0550 4203
London
Bell Pottinger Communications
Robin Tozer
+44 7887 721 295
+44 207 861 3891
About Dubai Ports
Dubai Ports (which comprises Dubai Ports Authority (DPA) and DPI Terminals (DPI)) has been at the forefront of Dubai's extraordinary transformation into one of the world's leading trade and commerce hubs. DPA is focused on the home ports at Rashid and Jebel Ali which DPI formed in 1999 (as Dubai Ports International) to export this success internationally. DPI initially applied its expertise to managing ports in the Middle East, India and Europe. Its first project was at Jeddah Islamic Port (in 1999), where it collaborated with its local partner on the management and operation of the South Container Terminal (SCT). In 2003, SCT was the first terminal in the Kingdom of Saudi Arabia to exceed 1 million TEU and volumes in 2004 exceeded 1.3 million TEU. DPI then went on to develop successful operations at the ports of Djibouti (2000), Vizag, India (2002) and Constanta, Romania (2003).
In January 2005 DPI transformed its network with the strategic acquisition of CSX World Terminals (CSX WT), the international terminal business of CSX Corporation, renaming itself DPI Terminals to reflect the change. This acquisition gave DPI a strong presence in Asia with major operations in Hong Kong and China as well as operations in Australia, Germany, Dominican Republic and Venezuela. Importantly for the future development and expansion of its network, DPI also acquired CSX WT's strong project pipeline.
One cornerstone project, which underlines DPI's position as a major player in Asia, is the development of Pusan Newport, South Korea. DPI has a 25% interest in and management contract for this 9-berth facility, which will have a capacity of 5.5 million TEU. It is currently under construction and is expected to be operational by 2006.
Other significant projects will strengthen the network with further developments in India and the Middle East. In February 2005 DPI signed an agreement with the Cochin Port Trust (CoPT) to construct, develop and operate an international container transshipment terminal at Vallarpadam, Kochi, India. It is the largest single operator container terminal currently planned in India and the first in the country to operate in a special economic zone. The new terminal will make Kochi a key centre in the shipping world reducing India's dependence on foreign ports to handle transshipment.
In March 2005, DPI was awarded a 30 year concession to develop and operate the container terminal at the Port of Fujairah, in the UAE. This concession will enable DPI to streamline operations at the major container facilities of the UAE, and further increase the choices available to its customers. In June 2005 DPI was short listed as preferred bidder to operate the container terminal at the Port of Aden.
DPI also has interests in logistics businesses in Hong Kong and China, notably ATL, the market leading logistics operator based at Kwai Chung, Hong Kong.
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