Amman

Jordan's Red Sea Aqaba port's privatisation will gather pace by year-end, with major facilities and terminals tendered to foreign investors, the developer of the region's special duty-free economic zone said.

Imad Fakhoury, chairman and CEO of Aqaba Development Corporation (ADC), said a 30-year master plan being implemented would boost Aqaba's competitiveness as a regional transport and logistics hub to tap growth in trade.

"All the port has been broken into specialised terminals or business units that will be packaged and privatised according to best international practice," Fakhoury, whose ADC owns the city of Aqaba's strategic assets including the port, said.

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Posted by pichu at August 30, 2006 10:01 PM