Management organisation QTerminals has been established for the $7.4 billion Hamad Port development in Qatar.
An agreement has split QTerminals by 51% to Qatar Ports Management Company (Mwani Qatar), an operator of ports, trade and tourism the country, and 49% to maritime and logistics institution Qatar Navigation (Milaha).
According to Emirates Business, Qatar’s transport minister told reporters at a signing ceremony that a proposed QR100 million ($27.5 million) in capital has been allocated to QTerminals.
Hamad Port is expected to have an annual capacity of seven million TEUs per annum when it achieves its 2020 completion date and will feature three container terminals, a naval base and be part of a special economic zone.
It will support an economic diversification programme in the region and create trade between the Gulf Cooperation Council (GCC) countries connected to Hamad Port by a road and rail network.
The port will feature a customs inspection area for cargo clearance, a 110 metre-tall control tower and a ship inspection platform, in addition to other storage units, mosques, rest areas, medical clinics and offices for port operations.
The QTerminals agreement was signed by Mwani Qatar CEO Captain Abdulla Al Khanji and Milaha President and CEO Abdulrahman Essa Al Mannai.
Commenting on the occasion, HE Minister Al Sulaiti said: “This strategic partnership reaps the benefits of several years of strong collaboration and ties between Mwani Qatar and Milaha, which have brought about this common plan for managing Hamad Port, one of the country's vital megaprojects and which will serve as Qatar's gateway to world trade.”
