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Gulftainer moves overseas

Dubai: In its first major move outside of the Gulf, UAE-based Gulftainer has signed a deal to develop two port facilities in the Comoros island group. In a joint venture with the Al Marwan contacting group, the port management company will take immediate charge of operations at Moroni port, next year moving in to the port of Mutsamudu. Initial plans call for an investment of around $12m in upgrading port infrastructure with the aim of increasing throughput fivefold, from the current 100,000 teu annual total. Gulftainer, operator of Khorfakkan and Sharjah ports, also has a consultancy agreement with Kuwait to improve efficiency at its ports, and in addition the company is looking at expansion in India as well as Turkey.  [12/09/06]

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