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: Free Zones in the UAE |
| Dubai
Ports World [DP World] |
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| DP World finalises $1.25bn port deal |
| An international consortium led by Dubai’s DP World on Monday signed an agreement finalising its deal to build and operate the new 900 million euro ($1.25 billion) terminal in the Netherlands. |
The port of Rotterdam is the largest in Europe. |
The official signing between the Port of Rotterdam and the five-member consortium took place in Rotterdam.
“We are looking forward to working with our colleagues in the consortium and the Port of Rotterdam to build a world-class terminal operation,” said Jamal Majid Bin Thaniah, DP World vice chairman and group CEO of Ports and Free Zones World.
The new container terminal at the port’s Maasvlakte 2 development - Rotterdam World Gateway (RWG) - is the first to be set up on the new site and is expected to boost the port's current container handling capacity by 40%.
RWG is set to have a capacity of around four million TEU (standard size for containers) and is expected to help relieve pressure in Europe’s congested ports.
"The new Maasvlakte 2 provides a high-quality site. Such new terminal locations are very scarce in Europe and this will be even more the case in the next decades,” said Hans Smits, CEO of Port of Rotterdam Authority.
“This called for partners able to fill the new terminal, deliver both financially and operationally, while optimising hinterland connectivity as part of the effort to reduce environmental impact of container traffic.”
DP World's partners in the deal are APL of Singapore, Japan's Mitsui OSK Lines, Hyundai Merchant Marine of South Korea and French shipping line CMA CGM.
DP World holds a 30% stake in the Rotterdam World Gateway terminal, which will begin operations in 2013.
The terminal will have a 1900-metre long deep-sea quay with a depth of 20 metres, a 550-metre quay for inland shipping and feeder vessels and its own rail terminal with a connection to the Betuweroute. |
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Courtesy ITP DIGITAL
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Hot
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