Hutchison Ports buys into Basra

Hutchison Ports has made its second overseas deal this year. The Hong Kong-based terminal operator has signed with Nawah Port Management (NPM) to partner existing and future operations at Iraq’s top boxport, Basra.

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

“We view NPM’s operations at the Port of Basra as an integral piece of our expanding Middle East strategy and are excited about the opportunities this partnership creates,” said Andy Tsoi, Hutchison Ports’ managing director – Middle East and Africa. “We believe strongly in the growth story of Basra, Iraq, and the Middle East as a whole and are delighted to have the opportunity to participate in and support the growth of the business over the long term.”

Terms of the transaction were not disclosed.

In February Hutchison Ports signed a formal agreement with Ports of Stockholm to operate a container terminal under construction at Stockholm Norvik Port.