Qatar eyes $ 10 b investment in US ports

Monday, 3 January 2022 00:00 - - {{hitsCtrl.values.hits}}

Qatar is planning to invest $ 10 billion in US ports and has approached international banks for financing help.

According to Reuters, the investment is said to be developed in phases and Qatar is currently in preliminary stages.

“The Qataris have been preparing for almost a year to test the waters with US port investments,” revealed Michael Frodl, US-based Adviser of Maritime projects.

“We think that a shrewd investor with the $ 10 billion the Qataris desire to put into American port infrastructure would likely look at the underserved East Coast first and foremost. The West Coast is getting all the US government and private investment attention, while the East Coast is long overdue for improvements.

“We’d be looking at ageing medium-sized ports south of Boston and north of Jacksonville.”

While West Coast ports are achieving nationwide attention, a study commissioned by ports in Washington and California and conducted by the Northwest Seaport Alliance found that ports in Canada receive more than twice the amount of federal funding when compared to ports along the US West Coast.