DP World Renews Concession Contract With Constanta Port By 2049
Muhammad Irfan Published March 19, 2019 | 09:15 PM
DP World Constanta, a subsidiary of the Dubai-headquartered global trade enabler DP World, has renewed its concession agreement allowing it to operate in the Romanian Black Sea port of Constanta for another 30 years, until 2049
BUCHAREST, (UrduPoint / Pakistan Point News / WAM - 19th Mar, 2019) DP World Constanta, a subsidiary of the Dubai-headquartered global trade enabler DP World, has renewed its concession agreement allowing it to operate in the Romanian Black Sea port of Constanta for another 30 years, until 2049.
DP World Group Chairman and CEO, Sultan Ahmed bin Sulayem signed the agreement with the Romanian Transport Minister Razvan Cuc in the presence of Romanian Prime Minister Viorica Dancila and Dr. Ahmed Abdullah Al Matrooshi, UAE Ambassador to Romania, as well as a number of senior Romanian officials.
DP World won the tender for the long-term concession of the Constanta Container Terminal in November 2003 and started operating it in 2004. The Port Authority and Constanta Chamber of Commerce have recognised the DP World-run terminal as the best port operator in Constanta every year since its inception.
The new agreement allows DP World Constanta to maintain, operate and further develop the Constanta South Terminal. The terminal serves both the Romanian domestic market and a wider hinterland spreading into parts of Central Europe, together with first-class feeder connections to the Ukraine, Russia, Bulgaria, Georgia and Moldova. The geographic location has also proved ideal as a reliable trans-shipment hub for the greater Black Sea region.
The current capacity of the terminal is 1,000,000 TEU, and there is sufficient land area for phased expansion to cater for volumes greater than 4,500,000 TEU.
Related Topics
Recent Stories
UHS to issue MBBS degrees within three months after final result
Aiman Khan granted UAE Golden Visa
PSX achieves significant milestone, surpasses 72,000 mark
Pak Vs NZ T20I: Orphaned children extended special invitation to watch match
Finance Minister lauds UNDP’s unwavering support during floods
President Raisi leaves for Iran from Karachi
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 24 April 2024
Today Gold Rate in Pakistan 24 April 2024
Punjab CM inaugurates Pakistan’s first Virtual Women Police Station
Dutch model Donny Roelvink embraces Islam
Experts raise concerns over introduction of 10-stick packs
Iranian president arrives in Karachi
More Stories From Middle East
-
UAE announces ‘Zero Bureaucracy Program’ to reduce bureaucracy
3 months ago -
COP28 President-Designate welcomes Transitional Committee agreement to operationalise Loss and Damag ..
6 months ago -
Global Media Congress 2023 to feature Co-Production Majlis as a new networking platform
6 months ago -
Young female athletes shine at Abu Dhabi World Youth Jiu-Jitsu Championship
6 months ago -
King of Jordan receives Abdullah bin Zayed and ministers participating in Arab coordination meeting
6 months ago -
Abdullah bin Zayed participates in coordination meeting of Arab foreign ministers, joint meeting wit ..
6 months ago
-
3rd annual conference of Emirates Society of Clinical Microbiology kicks off in Dubai
6 months ago -
SIBF 2023 hosts Nobel laureate to discuss emergence of ‘Afrofuturism’ in global discourse
6 months ago -
ALC announces winners of Kanz Al Jeel Award 2023
6 months ago -
SIBF turns spotlight on remarkable contributions of women
6 months ago -
Global assets in spot bitcoin ETFs hit $4.16 billion
6 months ago -
Rescuers struggle to find Nepal quake survivors as deaths reach 157
6 months ago