Government Allocates US$500m To Upgrade Aden Port
News: The Yemini government has allocated an amount worth US$500mn to upgrade the Aden seaport, marinas and the national navigation company, according to Transport Minister Wa'ed Bathib. Dubai and Aden Ports Corporation (DAPDC) operated the Port of Aden under DP World's management until September 20. DP World's entire interests in DAPDC were later purchased by Yemen Gulf of Aden Ports Corporation based on a mutual agreement.
The Port of Aden is being developed to cater for a greater share in transshipment traffic. BMI notes that the port is ideally located on the Gulf peninsula for this role. Its position near the entry and exit point to the Suez Canal will allow it to serve the east-west shipping routes from the Asian markets to Europe and perform the role of transshipment for countries in the MEA region.