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Emerging Economies

Tuesday, 24 February 2015

Lamu port project to start next month

Construction of Kenya’s Lamu port project is due to start next month, according to the country’s president Uhuru Kenyatta.

India’s government is considering plans to attract further investment to its seaports by developing 12 ‘smart cities’ connected to key maritime hubs, at an estimated cost of $8 billion.

Saudi Arabia authorities are eyeing a $10 billion investment to develop a new port and shipbuilding plant in Jazan Economic City (JEC) in the southwest of the country.

Multinational cruise ship operator Carnival Corporation has announced plans to open its new $85 million port in the Dominican Republic by the end of this year.

The Indian government is reportedly seeking to raise $2 billion to fund major port expansion in the country.

Uncertainty hangs over the proposed $1.4 billion Colombo Port City in Sri Lanka this week, despite apparent backing from the country’s cabinet on Thursday.

The Indian government is reportedly preparing to invest $3.3 billion to develop greenfield ports at Dahanu, Vijaydurg and Revas in the state of Maharashtra.

Shipment volumes at the Tangier Med Port in Morocco rose 17% in 2014 reach 41.67 million tonnes year on year (y-o-y), the Tangier Med Port Authority (TMPA) said in a statement.

The Peruvian state port authority Enapu is to invest $549 million upgrading five ports in the country as it seeks to reduce export bottlenecks.

The Sharjah Container Terminal (SCT) in the United Arab Emirates surpassed previous record volumes in 2014 with 400,000 TEU in annual throughput. The cargo terminal, operated by Gulftainer, reported double–digit growth as shipments to the region overall rocketed, driven by strong trans-shipment trade.

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