Hutchison Ports announced earlier today the official commencement of its terminal operation at Saqr Port in the emirate of Ras Al Khaimah (RAK), located in the northern United Arab Emirates (UAE). Under the new concession agreement, concluded under the patronage of His Highness Sheikh Saud bin Saqr Al Qasimi, Member of the Supreme Council and Ruler of Ras Al Khaimah, Hutchison Ports will operate the facility for a period of 25 years. The terminal will operate under the name Hutchison Ports RAK.
Presiding over the commemorative ceremony attended by over 150 guests, H.H. Sheikh Saud and Hutchison Ports Group Managing Director Eric Ip expressed their confidence the port facility will provide positive support for local trade and economic development.
In his address, His Highness Sheikh Saud commented on the agreement, saying, “One of our objectives in Ras Al Khaimah is to create business infrastructure that will attract investors and entrepreneurs from around the world. Hutchison Ports RAK and its plans for future development of the Saqr Port facilities are a key piece in our logistics puzzle which will encourage those with interest to make the commitment to Ras Al Khaimah. This partnership is one more indicator that Ras Al Khaimah is committed to offering the infrastructure, services and skilled workforce that allows commerce and industry to thrive in the Emirate.”
Mr. Ip said, “We are excited to have the opportunity to invest in and operate a container terminal facility that is situated in a gateway location and is home to the world’s largest ceramics manufacturer. RAK has a strong export base, with many fine shippers of ceramics, pharmaceuticals, glass, cement, crushed rock and other products. These companies can now take advantage of a less congested and more sustainable multimodal shipping route to Jebel Ali and beyond. Meanwhile, by frequenting Hutchison Ports RAK, local truckers will have a shorter delivery route that allows them to make more trips every day.”
Hutchison Ports RAK is a four-berth, 350,000-TEU facility featuring an 800-metre-long quay with a depth alongside of 12 metres, in addition to a 20-hectare yard. It is located in a highly favorable location, just 25 kilometres from the RAK city centre, in close proximity to the RAK Maritime City Free Zone and the industrial zones of Al Hamra and Al Ghail.
Shippers in RAK will benefit greatly from the region’s central location on the East-West trade lanes, which could receive a boost in traffic from recovering global trade and from China’s continent-spanning Belt and Road Initiative. Hutchison Ports operates in 33 ports along the Belt and Road, ensuring direct access for RAK shippers as the initiative develops.
No financial details were disclosed.
Source: Hutchison Ports