Dubai Ports give up Aden Port for $27 million

Dubai Port Sanaa - Ali Rabea The maritime port operator Dubai Ports (DP) gave up their right to manage The Port of Aden in South Yemen for $27 million. The Yemeni Gulf of Aden Ports Corporation and Dubai Ports - which is the third largest maritime port operator in the world - signed the contract on Thursday, which stipulates that Aden Ports will now manage and operate the port from September 20. Aden Ports said that they were pleased with this agreement, which will protect the interests of Yemen and ensure the future of the strategic port. Dubai Ports said they were equally pleased. An official source in Gulf of Aden Ports Corporation told Arabstoday that this agreement will provide stability and enhance the national economy. The source added that it would help the country develop the port into a central port. Both corporations claimed that the agreement will improve the relationship between Yemen and the United Arab Emirates. Dubai Ports assured that the agreement with the Yemeni parties, which includes Gulf of Aden Ports Corporation, was extremely important. It said that the settlement with Yemen is an act of recognition from Yemen of the investment that was made by Dubai Ports. Yemenis criticised Dubai Ports for the lack of commercial activity in Aden Port when DP was in charge. Some accused DP of deliberately failing to fulfil its commitments not to harm the interest of Dubai and Djibouti ports, which are also operated by Dubai Ports.   hr id=