Aqaba Container Terminal (ACT) is a joint venture between Aqaba Development Corporation (ADC) which is the Jordanian Government's central development vehicle for the Aqaba Special Economic Zone (ASEZ) and APM Terminals " one of the world's leading container terminal operators.After signing a Terminal Management Contract with ADC in 2004, APM Terminals took over the management and operation of the terminal. A further 25"year Joint Development Agreement (JDA) was signed between ADC and the ACT in 2006.The joint venture represents the first Public Private Partnership (PPP) initiative launched by ADC as part of its program to rehabilitate and expand port terminals of Aqaba and wider logistics and transport infrastructure within ASEZ.View Larger MapThe news was announced by Zawya.com:

"Capital Bank announced the signing of a JD56.8M, 8-year syndicated loan agreement with the Aqaba Container Terminal (ACT) to fund part of the cost of the terminal expansion project. The loan was arranged by Capital Investments, the investment arm of Capital Bank, while Capital Bank is leading the syndicate which comprises the Social Security Investment Fund, Cairo Amman Bank and Jordan Kuwait Bank."

Capital Bank, a leading bank in Jordan, said it has arranged a JD56.8 million ($80 million) in a eight year syndicated loan.The project will be implemented in accordance with the action plan set by APM Terminals and involves the extension of the terminal's quay from 540m to 1km, in addition to investments in container handling and transportation equipment to increase the terminal's throughput capacity.They also report Mr. Omar Al-Wir's comments:

Mr. Omar, CEO of Capital Investments, added: "Our role in this transaction reflects our understanding of the importance of expanding the terminal's capacity, which is the Kingdom's primary access to the international shipping lanes of the Red Sea and beyond, while also underscoring our commitment to contributing to the growth and development of the Jordanian economy.

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