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Preferred bidder announced for New Port of Aqaba

by Robeel Haq on Aug 4, 2009

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Aqaba Development Corporation will enter into direct negotiations with AGG in the coming weeks

Aqaba Gateway Group (AGG) has been revealed as the preferred bidder for the New Port of Aqaba project in Jordan.

The announcement, which was made by Aqaba Development Corporation (ADC) yesterday, followed the completion of a technical and financial evaluation process by two qualified bidders.

A number of companies were included in the AGG consortium, including KGL Investment Company, Kuwait Gulf Link Transport Company, Deutsche Bank, Latham & Watkins, Portia and Arcadis.

According to ADC’s chief executive officer Imad Fakhoury, the company will enter into direct negotiations with AGG in the coming weeks to discuss the Development and Operating Agreement for the New Port of Aqaba.

An agreement is expected to be signed in October for the Public Private Partnership (PPP).

The Ayla New Port Consortium was announced as runner-up, led by French giant Bouygues, along with compatriot Bollore and Jordanian EPC contractor Consolidated Contractors Co.

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