APM Terminals and Aqaba Development Cooperation signed a Memorandum of Understanding this week for a 15-year extension of their partnership in the Aqaba Container Terminal (ACT), according to the company's release. The agreement secures a $242 million investment to maintain ACT’s leading position in the region and accelerate plans to transform ACT into a truly sustainable gateway to Jordan, the Levant and beyond.
At a forum following the signing, Keith Svendsen, CEO of APM Terminals, introduced the key aspects of the company’s future vision for the Aqaba port, which include ambitious decarbonization plans, the modernization and expansion of ACT, the development of a training center for individuals working in the maritime and logistics sectors, and ongoing support for Jordan's goal of becoming an export hub for green energy.
On site solar will completely eliminate the terminal’s carbon footprint and the zero-carbon terminal will become the heart of Aqaba’s future logistics eco system. Relocating customs closer to the port will optimize clearance processes and directly connect to Aqaba Logistics Village where increasing trade opportunities will reach the wider economy. Bringing together agents and shippers will also ensure faster goods distribution.
Part of the vision is to develop a Centre of Excellence for the logistics and maritime industry, which will play a pivotal role in developing the skills of the sector’s current and future professionals in line with global standards and benchmarks. This will support growth and progress for Jordan and across the Levant. Students enrolled in the centre will have the opportunity to be an integral part of Aqaba’s transformation, allowing members of the local community to take a more active role in these exciting changes.