Framework Agreement Signed for Developing, Operating Shinas Port

The Ministry of Transport, Communications and Information Technology today signed a framework agreement with “QSS Maritime” to develop, manage and operate Shinas Port.
The agreement was signed by Eng. Said Hamoud Al Ma’awali, Minister of Transport, Communications and Information Technology, and Abdulbaqi Ahmed Al Kindi, CEO of QSS Maritime.
The agreement stems from the ministry’s efforts to attract more foreign investments, as well as international and local companies specialized in the management and operation of ports.
Under the agreement, the company will develop, manage and operate Shinas Port through 3 phases. The first stage includes the formation of a committee to receive and hand over the port.
The second phase will see the start of development, management and operation of Shinas port, with effect from 1 November 2023. This phase also includes the preparation of a commercial and marketing plan and a new masterplan covering a period of 8 months.
Final negotiations will begin during the third stage, a period of 12 months during which steps will be taken to prepare for signing of a long-term agreement to develop, manage and operate the port for a period of 30 years.
QSS Maritime company is a consortium of local and international companies that operates in the field of port management and operation. It runs more than 7 terminals in different ports.