Monday 28 May 2018

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Hutchison Ports partners with Iraq terminal operator

BAGHDAD, August 24, 2017

Hong Kong-based Hutchison Ports and the Pritzker Family Business Interests (PFBI) revealed that the port operator will partner with Nawah Port Management (NPM) to manage existing and future operations at the historic Port of Basra in southern Iraq, said a report.

Hutchison Ports will assume oversight of day-to-day commercial and operational activities at NPM, operating under the name of Hutchison Ports Basra, added the Iraq Business News report.

NPM is a containerised terminal operator at the Port of Basra located along the Shatt Al Arab waterway in Iraq.

The company services the shipping needs for a full spectrum of customers across Iraq – from large, multinational companies to local Iraqi merchants. NPM’s proximity to the city centre and major oilfields, and its operations are viewed as key competitive advantages versus other ports in the region.

Hong Kong-based Hutchison Ports and the Pritzker Family Business Interests (PFBI) are being advised by The Pritzker Organization (TPO).

Andy Tsoi, managing director - Middle East and Africa (MEA), Hutchison Ports, said that NPM’s operations at the Port of Basra as an integral piece of the company’s expanding Middle East strategy and are excited about the opportunities this partnership creates.

Eversheds served as legal advisor to Hutchison Ports and Latham & Watkins served as legal advisor to the PFBI during the deal process.

Terms of the transaction were not disclosed, added the report.

Tags: | Iraq | Terminal |

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