Yemen and DP World have reached a preliminary accord for the UAE company to run the Aden container terminal in the Arab state, Yemen's transport minister was on Saturday quoted as saying.
Under a memorandum of understanding signed by the two parts, DP World and Aden's port will set up an equally owned joint venture to develop and operate the container terminal, Yemen's state news agency Saba quoted Khaled Al-Wazeer as telling a newspaper.
In 2005, Yemen awarded Dubai Ports International (DPI), a DP World predecessor, a contract to develop and manage the Aden container terminal.
Yemen later suspended the contract after parliament deputies criticised it, Saba said. Industry sources said the objections were partially on the grounds that the Aden facility is in competition with Dubai's Jebel Ali port, also run by DPI.
Under a memorandum of understanding signed by the two parts, DP World and Aden's port will set up an equally owned joint venture to develop and operate the container terminal, Yemen's state news agency Saba quoted Khaled Al-Wazeer as telling a newspaper.
In 2005, Yemen awarded Dubai Ports International (DPI), a DP World predecessor, a contract to develop and manage the Aden container terminal.
Yemen later suspended the contract after parliament deputies criticised it, Saba said. Industry sources said the objections were partially on the grounds that the Aden facility is in competition with Dubai's Jebel Ali port, also run by DPI.