APM Terminals signs for Aqaba

Aqaba: Aqaba Development Corp has signed a jv with APM Terminals to manage, operate and expand the Aqaba Container Terminal for a period of 25 years. The move follows an initial two-year Management Service Agreement inked between the two in 2004. The terminal currently consists of 540 metres of quay supported by 8,800 ground slots and in 2005 it handled 392,000teu. Plan is to achieve an eventual capacity of 2.4m teu.  [03/08/06]