Able Logistics Group, a UAE based logistics & transport company, has secured a prized deal with the National Transport Company, an entity of the Iraqi Ministry of Transport, for the co-management of land transport operations to and from Iraq.
Abdul Karim Al Zuhairi, the official spokesperson for the Ministry stated to Al Hayat NewsPaper on December 4, 2011 that: "the terms of the agreement cover -in its first stage - the transport of goods destined to Iraq from the UAE ports, moving in a second stage to transiting goods by land from Iraq's Southern seaports into neighboring countries, including 60 to 100 trucks per day.
Furthermore, the National Transport Company and Able shall offer logistics support services by co-managing a land station in Basra dedicated for trucks and drivers". It is worth noting that the distance between the Iraqi Southern seaports and the Turkish border city of Dohuk is approximately 1014 km. This comes at a crucial time for multinationals and regional suppliers & manufacturers, when moving goods by land between Turkey and the Arab hinterland (Levant & GCC) will need alternative routes to the Syrian corridor, to avoid current delays or anticipated bans due to political turmoil.
Carlos El Hachem, General Manager of Able's land transport services stated that: "this landmark deal is the fruit of a close and assiduous cooperation between Able and the Ministry of Transport culminating into a public-private venture whose prospects are very promising. The deal is also a tribute to the Iraqi government's innovative contribution for securing multi-model transport solutions for goods destined to or transiting via, Iraq".
Able Logistics Group, whose revenues in 2011, are expected to exceed $200 million, is majority owned by GrowthGate, the GCC-based specialist buyout firm.