Dubai Ports World has signed a memorandum of understanding with authorities to operate the Aden container terminal in the Arab state of Yemen, according to comments made by Yemen's Transport Minister Khaled Al-Wazeer in media reports.
Under the terms of the preliminary agreement, DP World and Aden's port will establish a 50:50 joint venture to develop and operate the container terminal, Yemen's state news agency Saba quoted Khaled Al-Wazeer as telling a newspaper, reports Reuters.
The Reuters report said it was unable to contact DP World officials to verify the claim.
DP World predecessor, Dubai Ports International (DPI), was reportedly first awarded a contract by Yemen in 2005 to develop and manage the Aden container terminal.
However, Saba said that the contract was later suspended after Yemen's parliamentary deputies voiced opposition to the deal that industry sources allege was due in part to the Aden container terminal being a rival of Jebel Ali port in Dubai, which was also operated by DPI, Reuters added.
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