Source: Guldnews

By Nasouh Nazzal, Staff Report

Ras Al Khaimah: KGL Ports International yesterday launched the first phase of its Saqr Port here and the first giant vessel is expected to dock by mid-January.

Mohammad Al Mazeedi, Chairman and CEO of KGL Ports International, said his company is conducting negotiations with five major shipping companies to choose one to send a vessel for the inaugural trip to Saqr Port.

He added that KGL Ports International is in the process of investing $75 millions to improve Saqr Port on the BOT system (build, operate, transfer).

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Posted by pichu at December 10, 2006 3:31 PM