Somalilandsun — The Ports, Customs and Free Zone Corporation (PCFC), on Wednesday announced the establishment of a new company, P&O Ports, that will be focused on developing and operating medium-sized, multi-purpose ports worldwide.
P&O Ports is wholly owned by the Government of Dubai as a subsidiary of PCFC. The new company, specialised in developing and operating marine and inland ports in markets with a need for well-managed trade and logistics infrastructure, is designed to support sustainable development in emerging economies.
Sultan Ahmed bin Sulayem, chairman of PCFC, said: “The new company’s name, P&O Ports, reflects a rich marine heritage. We have the drive and ambition to take our company and this prestigious brand to new heights, identifying the next wave of opportunities for the development and operation of mixed cargo ports worldwide, particularly in emerging economies. This strategic initiative supports the vision of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai’s vision to achieve leadership in all spheres.
“We are pleased to announce that P&O Ports has signed MoUs to enter into preliminary discussions in with the governments of Madagascar, the Port of Berbera in the Republic of Somaliland and Albania to enhance their port infrastructure. The launch of P&O Ports complements Dubai’s global investments in the port industry and diversifies its operations to include maritime terminals of all sizes,” he explained.
P&O Ports is specialised in delivering high-end unloading and handling services for multi-purpose ports around the world. These brownfield ports, predominantly handling general cargo and bulk commodities, are a source of great opportunity but tend to be uneconomic for larger operators. P&O Ports, as a newly created, specialised company, provides the flexibility to compete more efficiently within this sector. Meanwhile, Dubai continues to reinforce its global presence as a world-class leader in the operation of large and medium ports through DP World, which today has a portfolio of more than 65 marine terminals across six continents.Bin Sulayem added: “The wide expertise we have gained in port development and management is a good reason for us to move forward to strengthen our position as a global leader in this sector. Our comprehensive strategy at PCFC is geared to predict and prepare ourselves for world changes in global trade before they happen, through capacity building and partnerships that empower us to take a central role in shaping the future of the ports and logistics sector.”
“PCFC has carefully picked the best people to run P&O Ports. I am pleased to announce Arif Obaid Al Dehail, CEO of Trakhees — a division under the Ports, Customs & Free Zones Corporation, as chairman of P&O Ports, and Hassan Hadi as CEO of the company. They both have extensive experience in port development and management in Dubai and overseas, including broad technical and management skills that will help the company meet its strategic goals,” he added.