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AMMAN — Arab Bridge Maritime Company (ABMC) on Tuesday inaugurated a new phase of its investment projects across Jordan and Egypt, which includes developing a passenger and (RoRo) cargo terminal at the Aqaba Port.
The port is establishing a dedicated customs zone in Aqaba for Egyptian agricultural products, and launching a shipyard project for ship repair and maintenance at the major Safaga Port.
A Memorandum of Understanding (MoU) of the project was signed in Cairo between the Arab Bridge Maritime Company and the General Authority for Red Sea Ports.
The MoU signing was in presence of the Jordanian Transport Minister Nidal Katamine and Egyptian Transport Minister Kamel alWazir, Iraqi Deputy Transport Minister Hazim AlKhafaji, representing Minister Razzaq Al Saadawi.
The agreement aims to establish the first Arab shipyard for vessel maintenance and repair in this "vital" region under a Build-Operate-Transfer (BOT) model as well as developing maritime infrastructure and enhancing logistics services in Red Sea ports, the Jordan News Agency, Petra, reported.
Jordan Transport Minister praised the company's "unique" achievements, stressing that ABMC's current investment expansion in maritime infrastructure projects embodies the founding states' commitment to transforming the Red Sea into a fully integrated Arab transport and logistics hub.
Katamine added that the shipyard project for ship maintenance and repair at Safaga Port is not a separate Egyptian or Jordanian achievement, but a first step in a single integrated path connecting the Arab Red Sea ports.
He stressed that ABMC's new strategy for developing maritime infrastructure reflects the vision of the founding states toward effective Arab economic integration.
The Egyptian Transport Minister underscored the strategic projects being realised by the Arab Bridge Maritime Company is fruitful of joint Arab action and a model for "balanced" economic cooperation among Arab states.
The Iraqi Deputy Transport Minister emphasised Iraq's full support for Arab integration projects in the maritime transport sector, commending ABMC's pioneering role and its current management in strengthening this joint path.
ABMC General Manager Adnan Abadleh, said that the project represents a strategic turning point in the company's journey.
He added that what is being achieved is not only investment expansion but a re-mapping of the Arab maritime industry through the establishment of the first integrated shipyard for vessel repair and maintenance in the Red Sea.
