Maersk-owned global port and terminal operator APM Terminals and Aqaba Development Cooperation signed a Memorandum of Understanding (MoU) for a 15-year extension of their partnership in the Aqaba Container Terminal (ACT) in Jordan.
According to the deal signed last week, the two partners will invest US$242 million in the box terminal to maintain its strong position in the Levant region and accelerate net zero plans of ACT.
At a forum following the signing, Keith Svendsen, CEO of APM Terminals, introduced the key aspects of the company’s future vision for the Aqaba port, which include decarbonisation plans, the modernisation and expansion of ACT, the development of a training center for individuals working in the maritime and logistics sectors, and ongoing support for Jordan's goal of becoming an export hub for green energy.
“To reinforce our long-term commitment to Aqaba and to Jordan’s 2030 Economic Modernization Vision, we have developed a meticulous plan for enhancing Aqaba’s competitiveness both regionally and globally including a net zero emission target for 2040 - the only port in the region with such,” he said.
According to a recent announcement, on-site solar will completely eliminate the terminal’s carbon footprint and the zero-carbon terminal will become the heart of Aqaba’s future logistics eco system.
In addition, relocating customs closer to the port is expected to optimise clearance processes and directly connect to Aqaba Logistics Village where increasing trade opportunities will reach the wider economy.
"Bringing together agents and shippers will also ensure faster goods distribution," pointed out APM Terminals.
APM Terminals also aims to develop a Centre of Excellence for the logistics and maritime industry, which will improve the skills of the sector’s current and future professionals.
The Trump administration is planning to import eggs from Turkey and South Korea while negotiating with other countries in an effort to lower record-high prices for American consumers, officials have confirmed.
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