Hutchison Ports Signs 25-Year Concession for Saqr Port’s New Terminal
Hutchison Ports has inked a 25-year concession agreement to develop and operate a container terminal at Saqr Port in the emirate of Ras Al Khaimah (RAK), located in the northern part of United Arab Emirates (UAE).
As informed, the terminal will operate under the name Hutchison Ports RAK.
Hutchison Ports RAK is a four-berth, 350,000-TEU facility featuring an 800-meter-long quay with a depth of 12 meters, in addition to a 20-hectare yard.
“We are excited to have the opportunity to invest in and operate a container terminal facility that is situated in a gateway location… Companies can now take advantage of a less congested and more sustainable multimodal shipping route to Jebel Ali and beyond,” Eric IP, Group Managing Director at Hutchison Ports, commented.
Shippers in RAK are expected to benefit from the region’s central location on the East-West trade lanes, which could receive a boost in traffic from recovering global trade and from China’s continent-spanning Belt and Road Initiative.