Yemen to Renegotiate Aden Port Agreement with DP World

Yemen to Renegotiate Aden Port Agreement with DP World

Since the Aden container port has failed to achieve the business targets, Waaed Bazeeb, Yemeni Transport Minister stated that the government plans to renegotiate the Aden port’s deal with DP World.

Four years ago, DP World and Yemeni government signed a deal to establish a joint venture to develop and operate the Aden port.

Bazeeb said DP World had “missed a target” of raising container capacity to 900,000 20-foot equivalent container units (TEUs) by the end of 2011, and “failed to build and provide infrastructure” as specified in the 2008 agreement.

Consequently, we have decided to renegotiate with the company regarding fulfilment of its obligations,” he reportedly said.

[mappress]

Dredging Today Staff, January 10, 2012; Image: portofaden

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