Dubai-based port operator DP World and the Port of Fujairah have reached an agreement to terminate the Fujairah Port concession deal entered into in 2005.
The concession contract signed between the parties was on a build, operate and transfer basis (BOT) to expand and develop the Fujairah Container Terminal at the port for container handling and transshipment.
Following the termination deal, signed by Mohammed Al Muallem, Senior Vice President and Managing Director of DP World UAE Region and Capt. Mousa Murad, General Manager, Port of Fujairah, both parties have completed the transfer of operations from DP World to the Port of Fujairah authorities.
“The termination and handover of the management of the port is taking place in accordance with the conditions of the agreement. We are proud of our record in supporting our partners in Fujairah, developing the capability of the port and its efficiency and we wish them continued success,” Mohammed Al Muallem, DP World UAE Region SVP and Managing Director, said.
“We will continue to work closely with them to build on our strategic partnership and to ensure the interests of our customers and the country,” Sultan Ahmed Bin Sulayem, DP World Group Chairman and CEO, said.