Hutchison Ports lands $272m Ajman Port infrastructure contract
The northern emirate of Ajman has signed up Hutchison Ports, a global investor, developer and operator of ports, for the expansion and development of its ports infrastructure at a total investment of AED1 billion ($272 million).
The deal paves the way for a strategic, exceptional and vital project that reflects the status of Ajman and supports its Vision 2030, enhancing its leadership and competitiveness on the global economic map, said a statement from.
As per the MoU, a development plan will be drawn up for Ajman Port in accordance with the best global practices.
The goal is to enhance handling efficiency in terms of performance, safety, and operational speed; attract new shipping lines; align with digital transformation plans; and launch AI-powered programmess for port operations through an integrated 15-year plan aimed at managing, operating, and developing the port, solidifying its position as a vital logistics hub in the region, it stated.
The agreement was signed by Sheikh Dr. Mohammed bin Abdullah Al Nuaimi, Chairman of the Department of Port & Customs Ajman, and Andy Tsoi, Managing Director for the Middle East and Africa Division at Hutchison Ports in the presence of HH Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Executive Council.
Sheikh Ammar said: "Emirate of Ajman enjoys a developed and attractive investment environment, supported by a continuously evolving business ecosystem and the opening of new horizons for local and foreign investment."
"We believe that port development is an investment in the future of trade, food security, and economic growth," he stated.
The Crown Prince of Ajman emphasised that development of Ajman Port will play a key role in stimulating the local economy by supporting supply operations and facilitating export and import activities through the provision of sustainable, eco-friendly infrastructure.
The focus is on developing national talents and equipping them with modern port management skills, he stated.
On the MoU, Sheikh Al Nuaimi stated it reflects the Ajman leadership's aspirations to establish strategic partnerships focused on technology transfer, expanding investment opportunities, and building an integrated operational system based on the highest international standards in maritime and logistics operations.
It marks an important step in reinforcing Ajman Port's position as a strategic hub in the UAE's and the region's maritime transport network, especially since this partnership has proven its effectiveness and success at Ajman Port since 2011, he added.- TradeArabia News Service
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