APM Terminals and Aqaba Development Cooperation signed a Memorandum of Understanding this week for a 15-year extension of their partnership in the Aqaba Container Terminal (ACT). The agreement secures a $242 million investment to maintain ACT’s leading position in the region and accelerate plans to transform ACT into a truly sustainable gateway to Jordan, the Levant and beyond.
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 ambitious decarbonization plans, the modernization 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.
“Aqaba is considered one of APM Terminals’ major strategic ports, and an important gateway to the Levant region and beyond,” he said. “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.”
Investment in Solar Energy
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. Relocating customs closer to the port will optimize 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.
The kingdoms potential for renewable energy will meet APM Terminals commitment to decarbonisation. Maersk will also support the development of green hydrogen fuel with knowledge, expertise and a large demand for green fuel, enabling the Kingdom to enhance its positioning as a producer and exporter of green fuel.
Training Centre of Excellence
Part of the vision is to develop a Centre of Excellence for the logistics and maritime industry, which will play a pivotal role in developing the skills of the sector’s current and future professionals in line with global standards and benchmarks. This will support growth and progress for Jordan and across the Levant. Students enrolled in the centre will have the opportunity to be an integral part of Aqaba’s transformation, allowing members of the local community to take a more active role in these exciting changes.