Manateq, the national initiative working to diversify Qatar’s economy by providing premium infrastructure within strategic economic zones, has announced the award of Al Wukair Logistics Park development to Gulf Warehousing Company (GWC). Under this agreement, GWC will build, operate and transfer (BOT) the development of the 1.48 km2 Al Wukair Logistics Park in a public-private-partnership deal with a 30-year lease tenure, and an investment value of QR1.5bn.
The contract, which was subject to competitive bid, will allow GWC to design, finance, develop, operate and maintain the entire development, consisting of dry, cold, frozen and chemical storage facilities as well as light workshops and warehousing open yards.
In addition, the park will provide comprehensive solutions that include retail outlets, workers’ accommodation, first air clinic and a mosque.
Clients of the new Al Wukair Logistics Park will also benefit directly from GWC’s 15 years of local, regional, and international logistics experience providing the highest standards of quality and solutions for clients in every industry.
“This award, on a BOT basis, confirms our commitment to engaging the private sector in national change and economic diversification and progression,” chief executive officer of Manateq Fahad Rashid al-Kaabi said.
“Al Wukair facilities will be built in a variety of sizes catering to small, medium and large enterprises giving all, from start-ups to established brands, the opportunity to benefit from the logistics park’s investment incentives,” al-Kaabi added.
Work on the park is set to begin immediately with a first phase representing almost 40% of the park due for completion within two years, with the remainder due to be developed within five years.
“GWC is proud to be entrusted with developing the country’s logistics infrastructure while setting a new benchmark for logistics excellence that is adopted internationally,” stated GWC chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor al-Thani.
“This partnership with Manateq shall boost the growing local economy across all segments by offering best in class platform to developing and established enterprises, feeding into the actualisation of Qatar National Vision 2030 tenets of becoming a sustainable and diverse economy.” Sheikh Abdulla added.
This is the second such PPP that GWC has entered with Manateq, having completed the first such project, Bu Sulba Warehousing Park, on schedule in end-2016.
“We appreciate Manateq’s confidence in GWC, and believe our second partnership with them can bolster the gold standard we are setting in the market,” GWC Group CEO Ranjeev Menon said.
He added, “Our deep, hard-earned knowledge of the local market will make GWC Al Wukair Logistics Park the ideal location for businesses to avail of and enjoy the best logistics infrastructure that will allow them to focus on their core businesses and reap the benefits of this flourishing economy.”
Manateq’s logistic parks, which have been designed to accelerate the economy through enabling businesses to invest in a diverse range of sectors such as aluminium, steel, automotive, electronics, construction material, and food and beverage, by offering around 15mn square meters, distributed across Jery Al Samur, Al Wakrah, Birkat Al Awamer and Aba Saleel, to promote the economic diversification.
Al Wukair Logistics Park is the fifth logistics park Manateq has put forward to significantly contribute to Qatar’s economy and the development of the vibrant private sector and a diversified knowledge-based economy in line with the Qatar National Vision 2030.
“The parks have been strategically planned close to Hamad port and key gateways to offer logistics companies optimum connectivity to their transport times and costs,” al-Kaabi said. “We have drilled down into the current and future needs of the entire assembly, retail and logistics sector to ensure we meet their requirements and help foster their success. The public sector working in close partnership with private sector can create transformative opportunities for the country.”
LEAVE A COMMENT Your email address will not be published. Required fields are marked*
EU leaders make last-ditch push for budget ‘miracle’
Asian LNG prices rise as buying interest jumps
Coronavirus weakens job market for record number of Chinese graduates
Japan factory activity shrinks at fastest pace since 2012 in February
US-India trade deal unlikely before Trump’s visit to India
Pain for Asian banks is just starting as virus batters loans
Asian bourses end lower on fears over spreading virus
China’s traders throw away script after virus jolts stock markets
Investors in ‘show me’ mode after growth slips at Canada banks