HOSPITALITY
By admin • Dec 29th, 2008LOGISTICS
DPW takes over port
operations in Yemen
DUBAI – DP World, the Dubai-based global marine terminal operator, has officially taken over container handling operations at the port of Aden, in Yemen, completing a deal that was first announced in July. This takes DP World’s global network to 46 marine terminals in 26 countries. In a joint venture partnership with the Yemen Gulf of Aden Port Corporation, which also includes prominent Saudi Arabian company House of Invention International, DP World will operate and further develop container handling facilities in the Yemeni port. The agreement includes the leasing of both Aden Container Terminal, and of nearby Ma’alla Container Terminal, as well as a commitment by the joint venture to invest around $220 million in further developing the port. This includes building a new 400-meter berth extension to Aden Container Terminal within five years time. Capacity at Aden port currently sits at aproximately 700,000 TEU (twenty foot equivalent container units) and is expected to grow to around 1.5 million TEU by the year 2012. The joint venture plans to further expand capacity in response to growing market demand, as part of second phase development rights. DP World, which was formed by integrating operations of the Dubai Ports Authority in 2005, operates 46 terminals and 13 new developments across a total of 30 countries. In 2007, it handled more than 43.3 million TEU across its portfolio – an increase of 18 percent compared with 2006.
ENERGY
Kuwait Oil Company awards
$543m contract to Petrofac
KUWAIT – Petrofac, the oil and gas facilities service provider, has announced that it has been awarded a 147 million Kuwaiti dinar (approximately $543 million) lump-sum contract by the Kuwait Oil Company (KOC). The contract is for engineering, procurement and construction services for a new gas pipeline running from KOC’s Booster Station 131 in North Kuwait to its liquefied petroleum gas plant located at the Mina Al-Ahmadi refinery. Petrofac is the main contractor and will commence work shortly, undertaking engineering design, procurement and construction, pre-commissioning and commissioning of the pipeline. The project is expected to last for 21 months. The pipeline, approximately 140 kilometers long, will transport gas from Kuwait’s northern fields for processing at Mina al-Ahmadi refinery before being transported to Kuwait’s power generation plants. Petrofac was established as a producer of modular plant in Texas, US, in 1981 and 10 years later, Petrofac International started as an EPC business with an operational centre in Sharjah. It focuses on regions with major hydrocarbon reserves where significant capital and operational expenditures are expected.
