DOHA: The cabinet yesterday approved a draft law amending some provisions of Law No. 17 of 2009 on the establishment of Qatar Ports Management Company, QNA reported.
According to the draft law, the company is given a 15-year-long concession starting since the issue date of Law No. 17 of 2009, during which the company becomes the sole port manager and pays the government an annual fee that equals 25 percent of its net revenue.
The company is exempted from the fee for five years starting from January 2010, a period that could be renewed by a cabinet decision. The company’s obligation to pay the fee drops if the government cancels the concession or modifies its conditions.
The Peninsula
