ADC signs deal with APM Terminals for $242m investment

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(Photo: Prime Ministry’s official Twitter account)
AMMAN — The Aqaba Development Company (ADC) and APM Terminals (APMT), a global terminal operator, signed a memorandum of understanding on Tuesday to turn Aqaba into a regional logistics hub with a direct investment of $242 million, according to the Jordan News Agency, Petra.اضافة اعلان

Under the patronage of Prime Minister Bisher Al-Khasawneh, the memorandum was signed by ADC CEO Hussein Safadi and Keith Svendsen, CEO of APM Terminals International.

Safadi stressed that the agreement is meant to prepare Aqaba for an anticipated increase in maritime trade and shipping.

He explained that the memorandum calls for establishing a training college under the name “Maersk” International, with the objective of preparing Jordanian youth for employment in regional and international port systems.

The Aqaba Container Port project is the result of a 2006 collaboration between ADC and APMT.

Through its current partnership with ADC, APMT plans to expand its investments in Jordan, and the two parties are currently looking into a number of new investments and ventures.

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