Hutchison Ports Seals Basra Port Management Deal
Hong Kong-based port operator Hutchison Ports has entered into a deal with NAWAH Port Management (NPM) to assume management of operations at the Port of Basra in southern Iraq.
“Hutchison Ports will assume oversight of day-to-day commercial and operational activities at NPM, operating under the name of Hutchison Ports Basra,” the company said.
“We view NPM’s operations at the Port of Basra as an integral piece of our expanding Middle East strategy and are excited about the opportunities this partnership creates,” said Andy Tsoi, Hutchison Ports’ Managing Director – Middle East and Africa.
“We believe strongly in the growth story of Basra, Iraq, and the Middle East as a whole and are delighted to have the opportunity to participate in and support the growth of the business over the long term.”
NPM is a containerized terminal operator at the Port of Basra located along the Shatt Al Arab waterway in Iraq.
Terms of the transaction were not disclosed.