Ras Al Khaimah Investment Authority (Rakia) has allocated $500 million to bid for foreign port and free zone contracts in the Middle East and North Africa, a senior official has said, putting it in direct competition with ports giant DP World.
Rakia is currently in contention for three major deals in the region, including the coveted Poti Seaport contract in Georgia, which DP World, the worldĄŻs fourth largest port container operator, is also bidding for, said Ven Govinda, chief executive of Saqr Port, UAE daily Gulf News reported on Sunday.
Ras Al Khaimah's Saqr Port Authority is working with Rakia on the tenders, the newspaper said. |
