Cabinet discusses agreements of operating Aden port

SANA'A, July 15 (Saba) - The Cabinet discussed on its Tuesday meeting
measures and agreements, which have been signed Dubai World and
Yemen Gulf of Aden Port Corporation to form a joint Aden and Dubai
Company for Ports Development to operate and develop the Aden port
and its facilities.

The agreement includes the lease of both Aden Container Terminal and of nearby Ma'alla Container Terminal, and a commitment by the joint venture to invest around $220 million in further developing the port.The phase of expansion will include building a new 400 berth extension to Aden Container Terminal within five years from handover, which is expected by the end of this year.

The agreement was signed in the presence of Yemen's Deputy Prime Minister for Economic Affairs and Minister of International
Cooperation Abdul Karim al-Arhabi, and Dubai World and DP World
Chairman Sultan Ahmad Bin Sulayem.The port is considered strategically located to capture significant growing regional
transshipment volumes. In addition, Aden is a key domestic cargo
gateway for Yemen.