The Bangkok-based Thoresen Thai Agencies (TTI) recently acquired a 49 percent stake in the Sharjah Ports Authority’s newly formed entity, Sahrjah Port Services. TTI, a subsidiary of the Thoresen Group, acquired the share in the newly instituted cargo management firm for 490,000 Emirati dirhams ($133,405), reported Gulf News.
The joint venture won a 15-year mandate to run stevedoring, cargo handling, storage, cargo delivery, marketing and accounting for general cargo, ro-ro and reefer operations at the Hamriyah, Sharjah Creek, and Mina Khalid ports, which are under the jurisdiction of Sahrjah Port Services and handle almost one million tons of cargo annually.
The Thai group with Norwegian origins has a regional presence in the United Arab Emirates (UAE) in the form of a local agent, Gulf Agency Co. The Thoresen Group has 24 vessels in its fleet and has general cargo handling experience through another subsidiary, Chidlom Transport and Services Co, which has been engaged in stevedoring operations since 1989, and handled 1.3 million tons in 2001. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
