QTerminals Signs MoU with China Harbour Engineering Co. on Ports Investment
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Doha – Qatar
QTerminals, the recently-established operator of the first phase of Hamad Port in Qatar, today signed a Memorandum of Understanding with the China Harbour Engineering Company (CHEC), a leading provider of full services in Engineering-Procurement-Construction (EPC), Build-Operate-Transfer (BOT), and Public-Private-Partnership (PPP) for both public and private sectors.
The MoU was signed by QTerminals CEO Mr. Neville Bissett and President of CHEC Mr. Tang Qiaoliang, in the presence of HE Minister of Transport and Communications Jassim Saif Ahmed Al-Sulaiti.
The MoU serves the objectives of China's One Belt, One Road initiative and the Qatar National Vision 2030. It aims to identify and invest in potential maritime investment opportunities around the world. It also comes within Ministry’s endeavors to further boost Qatar’s ranking worldwide and open up new horizons for growth and development in all sectors.
As per the MoU, the two parties shall agree on the working mechanisms concerning funding, designing, constructing, operating and managing the opportunities to be discussed and agreed upon by both companies.
It also strengthens cooperation between the two companies in the framework of their mutual terms of reference, to provide the necessary resources and support to achieve the intended objectives of this cooperation. Moreover, the two parties intend to hold regular meetings and form task forces to implement their plan of action within a specific timeframe.
QTerminals is a terminal operating company jointly established by Qatar Ports Management Company (Mwani Qatar- 51%) and Qatar Navigation (Milaha- 49%) to provide the container, general cargo, RORO, livestock and offshore supply services in Phase 1 of Hamad Port, Qatar’s gateway to world trade.
CHEC is a leading provider of full services in Engineering-Procurement-Construction (EPC), Build-Operate-Transfer (BOT), and Public-Private-Partnership (PPP) for both public and private sectors. Their diverse infrastructure portfolio includes marine engineering, dredging and reclamation, road and bridge, railway, airport, equipment assembly. The company has abundant expertise and experience in other industries as well, such as building, municipal works, environmental, hydraulic engineering, power plant and energy, and resource exploration. By virtue of its advantages in technique, equipment, marketing and manpower, CHEC provides prestigious services globally and is becoming a world-renowned brand in the field of engineering.