World News | Sharjah Ports, Customs and Free Zones Authority, Gulftainer Extend Concession Agreements
Get latest articles and stories on World at LatestLY. Gulftainer, a leading regional ports and terminals operator, and a provider of supply chain and logistics solutions, announced that it has extended its concession agreements with the Sharjah Ports, Customs and Free Zones Authority for a further 35 years, which reinforces the shared mission to transforming UAE's supply chain and logistics industry throughout the Northern Emirates' key trade gateways at Sharjah Container Terminal and Khorfakkan Container Terminal.
Sharjah [UAE], November 20 (ANI/WAM): Gulftainer, a leading regional ports and terminals operator, and a provider of supply chain and logistics solutions, announced that it has extended its concession agreements with the Sharjah Ports, Customs and Free Zones Authority for a further 35 years, which reinforces the shared mission to transforming UAE's supply chain and logistics industry throughout the Northern Emirates' key trade gateways at Sharjah Container Terminal and Khorfakkan Container Terminal.
The extended agreements allow Gulftainer to manage, operate and further develop Sharjah Container Terminal (SCT) and Khorfakkan Container Terminal (KCT) throughout this century. This will encompass the unique value proposition elements of both ports - for SCT and Port Khalid, the first container terminal in the Middle East - where Gulftainer and Sharjah Ports Authority have been the trade enabler not only for the Emirate of Sharjah but also for the Northern Emirates and the whole UAE, handling container, bulk, Ro-Ro and general cargo.
Additionally, KCT - one of the world's most productive ports, which is strategically located outside the Straits of Hormuz on Sharjah's Indian Ocean coast serving the major east-west shipping routes, is capable of handling the world's largest container vessels and is also fully equipped to handle general cargoes for the UAE market and the wider GCC region.
The concession agreement was extended in the presence of Sheikh Khalid bin Abdullah Al Qasimi, Chairman for Sharjah Ports, Customs and Free Zones Authority, who signed the agreement with Peter Richards, Group CEO of Gulftainer.
This continued collaboration between Sharjah Ports Authority and Gulftainer, across five decades, marks a significant milestone in the UAE's maritime landscape, underscoring the value of public-private partnerships and its vital role in revolutionising port infrastructure and bolstering trade for the region and beyond.
Sheikh Khaled bin Abdullah said, "We look forward to continuing these endeavours and remain committed to fostering the right blueprint for advancing the UAE's maritime sector by connecting our region with global markets. Sharjah is well positioned to contribute to the future and prosperity of the country's economy, and with the extended concession agreements with Gulftainer, we strengthen the foundation stone for a new era of resilient trade and smooth connectivity for the supply chain and logistics industry, both within and from our region to the world."
Peter Richards, Group CEO of Gulftainer, added, "The extended concession agreements are a testament to Sharjah Ports Authority's confidence in the limitless capabilities that we always strive to deliver in developing tailor-made supply chain and logistics solutions for our global customers. I am delighted that our strategic partnership with the Emirate of Sharjah is going from strength to strength, and these agreements are a win for both parties, reaffirming Gulftainer's commitment to actively manage its growing portfolio; to ensure that we continue to deliver positive benefits for the economy and the communities in which we operate."
Gulftainer signed the original concession agreements for operating and managing the container terminal at Port Khalid in 1976 and the container terminal at Port Khorfakkan in 1986.(ANI/WAM)
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