Kuwait Ports Authority (KPA) said on Monday it had signed a memorandum of understanding with Abu Dhabi Ports Group to develop and operate the container terminal at Kuwait’s Shuaiba port under a concession agreement.
Shuaiba port, established in the 1960s, is Kuwait’s oldest port. It covers a total area of 2.2 million square metres (543.63 acres) and has 20 berths, while the container terminal has a storage area of 318,000 sqare metres, according to KPA’s website.
The port, located about 60 km (37.3 miles) south of the capital, handles commercial cargo, heavy equipment, raw materials and chemicals essential to various industries.
The MoU represents “the first preliminary step” toward concluding a concession contract, subject to the completion of required studies, KPA said in a statement without disclosing the value of the deal.
Under the agreement, Abu Dhabi Ports Group will prepare the technical, environmental and financial studies needed for the project, including infrastructure requirements.
(Reuters)