Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

UAE- Gulftainer awarded Lebanon's Tripoli port contract  Join our daily free Newsletter

MENAFN - 14/11/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN) Gulftainer's managing director, Peter Richards, announced that the port operator has won a contract to develop and operate a new container terminal at Lebanon's Port of Tripoli, reported Arabian Business.

Richards said that the concession, which will last for 25 years, would need an initial investment of more than USD60 million that would be spent on 3 ship-to-shore gantry cranes, 9 yard cranes and the latest technology in other container handlers and yard management systems.

The new terminal will be able to hold some of the largest container vessels operating in the Eastern Mediterranean when completed, reducing congestion at the Port of Beirut and giving a substitute to the beleaguered ports of Tartous and Latakia in Syria; moreover, it would create over 300 jobs.

Through the Sharjah-based company's in-house logistics firm Momentum; it can now connect Tripoli to its facilities in Umm Qasr Port in Iraq, which would be the shortest distance across the Arabian Peninsula connecting the Mediterranean Sea to the Gulf, avoiding the common congest points of the Suez Canal and Straits of Hormuz.

It is worth noting that the deal is part of an infrastructure investment project for the port's surrounding area.

 






  MENA News Headlines


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help