DUBAI, 20 January 2007 — The Kuwait-based KGL Ports International (KGLPI) has announced the soft opening of the new container terminal at Saqr Port in Ras Al Khaimah which will have a capacity to handle 350,000 TEUs. “Ibn Battutah,” a vessel owned and operated by United Arab Shipping Company, on Thursday became the first vessel to be berthed at the new container terminal, which was developed and is managed by KGLPI under a 21-year concession agreement with Ras Al Khaimah government.

KGLPI Chairman and CEO Mohammad K. Al-Mazeedi said all the infrastructure at the container terminal were completed and the terminal would be officially inaugurated at a function to be held in March 2007 under the patronage of Ras Al Khaimah Crown Prince and Deputy Ruler Sheikh Saud Bin Saqr Al-Qasimi.

“Today is a milestone in the history of KGLPI, as it is delivering on a promise to design, build, equip and operate one of the most modern ports in the region,” he said. Mazeedi added that the first phase of the container terminal development involved an investment of $70 million.

“The Mina Saqr container terminal is equipped with state- of- the- art facilities including 3 gantry cranes built by Liebherr of Germany and 6 RTG’s in addition to a full compliment of back up equipments. The container terminal also has a very advanced port management IT system, NAVIS, which is to be integrated to an Oracle ERP solution,” he said. Al-Mazeedi also announced the Phase II expansion plan for the container terminal under which the capacity will be enhanced around ten-fold to touch 3 million TEUs in a period of five years. “We are in the final stages of the technical, operational and financial studies for undertaking the Phase Two expansion. It will be presented to Sheikh Saud for approval and we hope to raise the capacity of the container terminal to 3 million TEU’s within a period of five years at an estimated cost of $250 million,” said Mazeedi.

“KGLPI is emerging as an internationally recognized developer and operator of ports and we are implementing a strategic plan to add two additional ports to our portfolio every year,” he said.