The Palestinian Authority (PA) has authorized a Franco-Dutch joint venture to develop a deep-water cargo port 4 kilometers south of Gaza City at Sheikh Ijlin, Gulf News quoted an industry publication as saying.
"The yet-to-be-declared country wants its own seaport and looks likely to get one. The port could be ready for business as early as next year" the 'Business Middle East', an EIU publication, stated in its latest report.
The future port will handle general cargo from Africa and the Mediterranean.
"In its infancy, it is most likely to specialize in heavy equipment for infrastructure development in the new Palestinian state Gulf News went on to say. According to the daily, the port would later add containerized cargo, posing some competition from the nearby Israeli ports of Haifa and Ashdod," the report said.
Although there is no shortage of ports in the eastern Mediterranean - they compete "fiercely" for cargo--the PA has reasons for building its own.
Most nations want strategic control of strategic assets-ports and airports. Along with it is the wish to minimize dependence on Israel's port, the report said.
"There are also economic reasons for building a port. The PA sees a business opportunity.
Amman is 460 kilometers from the Jordanian port of Aqaba, but only 160 kilometers from Sheikh Ijlin. Moreover, Aqaba is on the Red Sea, while Gaza City faces the Mediterranean, with direct access to European markets," it said.
The EIU report went on to say that Palestinian officials are close-mouthed about specific plans to develop the port.
"They reveal that France and the Netherlands have pledged $80 million each to the Franco-Dutch joint venture developing the plans. But, they are not disclosing names of the companies involved, the projected handling capacity of the port or the financing that will be needed to make it operational," Gulf News said - Albawaba.com
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