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Hutchison Port Holdings to develop and later run Port of Ajman in UAE

Hutchison Port Holdings has signed an agreement with Ajman Port Authority for the development and operation of Ajman Port in the United Arab Emirates. A company will soon be established to operate the container terminal in Ajman Port - the 52nd port in the HPH network of ports - for a concession period of 10 years, the company said, reported Datamonitor. John Meredith, group managing director of HPH, said, "The Middle East is an important market for HPH. We are pleased to be part of the Government of Ajman's ambitious plan to put the Ajman Emirate in an advanced economic position in the Arabian Gulf Area and make it a focal investment centre for local and foreign capitals and investors. It is our plan to modernise the port and improve its competitiveness to support the development of the Ajman Emirate." No details were given of the investment in the port.