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Wed 30 Nov 2016 01:55 PM

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Qatar JV launched to manage $7.4bn Hamad Port

QTerminals will have a proposed $27.5m in capital, says Qatar's transport minister

Qatar JV launched to manage $7.4bn Hamad Port

Qatar Navigation (Milaha) and Qatar Ports will start a joint venture to operate Qatar's Hamad Port in Doha, Milaha's Chairman Sheikh Ali bin Jassim bin Mohammad Al Thani said on Tuesday.

The venture, QTerminals, will have a proposed QR100 million ($27.5 million) in capital, Qatar's transport minister told reporters on the sidelines of a signing ceremony in Doha.

"The first phase of Hamad Port will begin operations on Thursday and have a handling capacity of two million twenty-foot equivalent units (TEUs) per annum," said Minister Jassim Saif Ahmed Al Sulaiti.

The $7.4 billion port is expected to be fully completed by 2020 and to have a capacity of seven million TEUs per annum and include three container terminals, a naval base and a special economic zone, Sulaiti said.

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