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National Petroleum Services KSCP : Kuwait-Based NAPESCO Signs Agreement with Safe Ports to Develop First Stage of Warehouse Complex at Regional Gateway in Jordan

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07/12/2018 | 07:01pm CEST

By a News Reporter-Staff News Editor at Investment Weekly News -- Safe Ports Holdings, U.S-based developers of Safe Ports Regional Gateway, a 1,000-acre site in Jordan that will serve as a thriving hub for global businesses looking to seize on Middle East growth opportunities, and National Petroleum Services Company (NAPESCO), a diversified publicly traded Kuwait-based company with a new focus on capital investments in the region, announced an agreement to develop and construct the initial warehouse complex at the site near the town of Al Mafraq, Jordan.

The announcement was made by Lucy Duncan, CEO, Safe Ports Holdings at the 2018 Jordan - US Investment Forum in New York City. Ms. Duncan and Khaled Al Saif, Chairman and CEO, NAPESCO co-signed the Memorandum of Understanding.

A trans-shipment, distribution, warehousing and business hub facility, Safe Ports Regional Gateway is a master-planned site in the Al Mafraq Special Economic Zone co-located with Jordan'sKing Hussein Air Base, with access to a 9800-foot runway, air traffic control tower and host of airfield services. Mafraq Development Corporation (MDC) of Jordan and the Jordanian Air Force (JAF) are partners in the creation of the Safe Ports Regional Gateway, a secure and economical inland port to begin operations in 2018 and grow in phases.

"We are delighted that NAPESCO has committed to help us to realize our vision of Safe Ports Regional Gateway becoming a world-class industrial, commercial and community development hub," said Ms. Duncan. "The company's significant capital commitment - combined with its expertise in facility expansion and wide array of related services - makes NAPESCO an ideal partner in this project."

"Given its potential to connect overland routes with access to major regional ports and a mixed-use airport, Safe Ports Regional Gateway can become a leading location for industrial production and a transportation hub for movement of goods throughout the region," said Mr. Al Saif. "We look forward to beginning work immediately as the business opportunities and humanitarian needs before us are enormous."

Utilizing its unique crossroads location - with airfield, highway and free-trade access - Safe Ports Regional Gateway will enable businesses and NGOs of all types who choose to locate there to maximize their participation in the anticipated increase of trade in the region, and to fulfill humanitarian missions.

The site of Safe Ports Regional Gateway is approximately 75km north of Amman, Jordan, and 3km from the Syrian border crossing, with direct road access to the Port of Haifa (Israel) and the Port of Aqaba (Jordan). Safe Ports Regional Gateway benefits from extensive modern infrastructure developed for road networks, electricity, water supply and waste water, as well as fiber-optic connectivity. About Safe Ports Holdings: Founded in 2005, Safe Ports Holdings is both a U.S. federal contractor and a commercial business based in Charleston, SC. Under the leadership of CEO Lucy Duncan, Safe Ports excels in logistics, inland port development, port security; disaster relief training and preparedness, and geospatial/environmental services. The company operates globally, with an emphasis on emerging markets or regions in transition. To learn more, visit www.safe-ports.com. About NAPESCO: Founded in 1993 as a privately held company, National Petroleum Services Company (NAPESCO) has established itself as a leading provider of Upstream Oilfield Services including Cementing, Stimulation, Coiled Tubing, Nitrogen, and Downhole Service Tools. In 2001 the company began offering Environmental Services and today maintains a leading position within the Gulf region as an in-house provider of Environmental Monitoring and Analytical Laboratory Services, Consultancy Services and Waste Management Services. ?Since 2003 NAPESCO has been a publicly traded company listed on the Kuwait Stock Exchange. In 2006 the company expanded its business operations with the region through additional capital investments, facility expansion, further diversification of business activities and the start of International Operations. To learn more, visit www.napesco.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20180625006350/en/

Keywords for this news article include: Safe Ports Holdings, Investment and Finance.

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2018, NewsRx LLC

(c) 2018 NewsRx LLC, source Business Newsletters

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Khalid Hamdan Al-Saif Vice Chairman & Chief Executive Officer
Omran Habib Hassan Jawhar Hayat Chairman
Rajeev Singh Harpal Manager-Operations
Vishweshwara Karkala Manager-Finance & Information Technology
Muhaimen Ali Sayed Behbehani Non-Executive Director
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