Business

COSCO Wants To Develop Aden’s Port

The Ministry of Transport is working to improve both Aden’s and Hodeida’s ports, the Minister of Transport Badr Mohammed Basalma has revealed a new plan that aims to develop and expand their depths in order to meet the international standards required for sailing and anchoring giant ships.

Basalma explained that the plan includes a government project of $300 million, which will be paid soon. “The ministry will submit for the private sector the services side of the Hodeida port such as the boats, the external transport locomotives, provide oil, and other services at a competitive price, with keeping the ownership of the port as a sovereign right that can’t be touched.”

Basalma added that the government is working hard to get half a billion dollars to deepen the port of Aden to 18 meters so that it can receive ships and can compete with the ports of neighboring countries.

Regarding the decline of trade and shipping activity in Aden, Basalma said that one of the reasons of the decline is labor strikes at the port and bad management. “Aden enjoys advantages, navigational capabilities, and a large labor intensity compared with Hodeida and other Yemeni ports, where its absorptive capacities reaches one million containers due to its depth of 16 meters. However, last year it received only 350,000 containers as a result of the managerial problems that have had a negative impact on the port’s activity and redirected ships to the Hodeida port,” he said.

According to Basalma, the Transport Ministry has identified a time limit for the leaders of Aden port to specify the difficulties and problems suffered by the port as well as suggestions and solutions to improve the situation.

In addition, he pointed out that the national income revenues of Hodeida port reached to more than 120 billion riyals during the last year while the port received about 70% of the total imports of Yemen’s needs, although its depth isn’t more than 9 meters and a half.

Earlier, the COSCO Chinese navigational company, the fifth-largest navigation company in the world, expressed its desire to develop the Aden port and make it a global port.