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Qatar Ports Management Company, Mwani Qatar and Milaha have signed an agreement to establish a new joint venture, called QTerminals, to manage the new Hamad Port, which is being developed to replace Doha as the country’s main commercial cargo handling facility. Mwani Qatar will have a 51% stake in the company, and Milaha 49%.
The deal was signed on November 29th by Mwani Qatar Chief Executive, Captain Abdulla Al Khanji and Milaha President and Chief Executive, Abdulrahman Essa Al-Mannai, in the presence of Qatar’s Minister of Transport and Communications, Jasmin Said Ahmed Al Sulaiti.
Commenting on the occasion, Minister Al Sulaiti said, “This strategic partnership reaps the benefits of several years of strong collaboration between Mwani Qatar and Milaha, which have brought about this common plan for managing Hamad Port, which will serve as Qatar’s gateway to world trade. We are confident the new company, established collaboratively by two of Qatar’s leading corporations, will help leverage the country’s competitiveness among world economies.”
Hamad Port is one of the world’s biggest port development projects and represents an important addition to Qatar’s maritime infrastructure. Eventually it will have capacity to handle 7 million teu a year, and will be connected to other GCC countries through a road and rail network. When completed Hamad Port will also include a customs inspection area, a uniquely designed port control tower with a height of 110 meters, a ship inspection platform and various other maritime facilities, in addition to other utilities.
