DP World to run Algeria's Djendjen terminal |
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DP WorldDP World
, a subsidiary of Dubai World, has signed a pact to operate the Djendjen cargo terminal in Algeria. As per the agreement, a joint UAE-Algeria firm will be set up in the first quarter of 2009 to take over operations.
The new company will be in charge of the terminal as well as all shipment activities, said Mohammed Atmane, Djendjen Port's Managing Director.
The deal will see as many as two million container ships pass through the port each year and will create 1,500 jobs.
Djendjen handled 1,760,000 tonnes of cargo from January to October this year, compared to 1,222,000 tonnes for the same period in 2007, Atmane said. The port, which opened in 1993, is the most commercially important in Algeria.
The Algerian government has recently decided to pass over management duties of a number of cargo terminals to foreign companies. DP WorldDP World
currently operates 45 terminals, in addition to 13 new developments in the pipeline, across 29 nations.The company has continued to see throughput growth from its consolidated terminals through the third quarter of 2008, with volumes for the nine months to September 30, 2008, growing 16 per cent ahead of the same period last year.
Its throughput of containers in the first half of 2008 increased 21 per cent to 13.6 million TEU (twenty-foot equivalent container units).
Last week, the Yemeni government, represented by Gulf of Aden Port Corporation, signed an agreement with DP WorldDP World
to operate and develop containers terminal in Aden's free zone. The total partnership capital is $220 million (Dh808m) and each party has 50 per cent. It was agreed also to rent the land for 25 years but the contract is to be renewed every 10 years.By Staff Writer
© Emirates Business 24/7 2008
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