Qatar's new port opens, raising capacity from 750,000 to 2 million TEU
QATAR Port Management Company (Mwani) and Milaha will establish "QTerminals" to manage the QAR27 billion (US$7.4 million) Hamad Port, which has now opened and expects to become a major regional hub, reports Doha's Gulf Times.
The first phase of Hamad Port became fully operational in November, taking the annual handling capacity up to two million TEU from the today's 750,000 TEU capacity. The old port has been closed to cargo vessels though it is still open to cruise ships.
Mwani owns 51 per cent and Milaha has 49 per cent in QTerminals, an independent company with its own board of directors, executives and staff.
Mwani CEO Abdulla al-Khanji and Milaha CEO Abdulrahman Essa al-Mannai signed the agreement in the presence of Qatari Transport Minister Jassim Saif Ahmed al-Sulaiti and Milaha chairman Ali bin Jassim bin Mohamed al-Thani.
"We are confident the new company, established collaboratively by two of Qatar's leading corporations, will contribute to leveraging the country's competitiveness among world economies," said Mwani chairman al-Sulaiti.
Hamad Port will handle Qatar's increasing maritime trade and stimulate growth and economic diversification across the region, said Mr al-Sulaiti. "Qatar would be positioned to become a regional commercial hub and would be well on the road to achieving the objectives of the Qatar National Vision 2030."
According to a study by AT Kearney, ports in the Gulf Co-operation Council (GCC) have witnessed "explosive" growth over the past three decades. The GCC ports have been through the launch and rapid growth phases on several unique global and regional factors, it said, adding the age-old trade route between east and west is one factor.
Hamad Port represents a significant addition to Qatar's maritime infrastructure and will have a handling capacity of seven million TEU a year after full build-out.
QATAR Port Management Company (Mwani) and Milaha will establish "QTerminals" to manage the QAR27 billion (US$7.4 million) Hamad Port, which has now opened and expects to become a major regional hub, reports Doha's Gulf Times.
The first phase of Hamad Port became fully operational in November, taking the annual handling capacity up to two million TEU from the today's 750,000 TEU capacity. The old port has been closed to cargo vessels though it is still open to cruise ships.
Mwani owns 51 per cent and Milaha has 49 per cent in QTerminals, an independent company with its own board of directors, executives and staff.
Mwani CEO Abdulla al-Khanji and Milaha CEO Abdulrahman Essa al-Mannai signed the agreement in the presence of Qatari Transport Minister Jassim Saif Ahmed al-Sulaiti and Milaha chairman Ali bin Jassim bin Mohamed al-Thani.
"We are confident the new company, established collaboratively by two of Qatar's leading corporations, will contribute to leveraging the country's competitiveness among world economies," said Mwani chairman al-Sulaiti.
Hamad Port will handle Qatar's increasing maritime trade and stimulate growth and economic diversification across the region, said Mr al-Sulaiti. "Qatar would be positioned to become a regional commercial hub and would be well on the road to achieving the objectives of the Qatar National Vision 2030."
According to a study by AT Kearney, ports in the Gulf Co-operation Council (GCC) have witnessed "explosive" growth over the past three decades. The GCC ports have been through the launch and rapid growth phases on several unique global and regional factors, it said, adding the age-old trade route between east and west is one factor.
Hamad Port represents a significant addition to Qatar's maritime infrastructure and will have a handling capacity of seven million TEU a year after full build-out.