The National River Port Management Company (NRPMC) has recruited Michael J. Power, a former senior executive for one of the world's leading port operators, as its new CEO
The National River Port Management Company (NRPMC), Citadel Capital’s platform for the development and management of river ports, has hired a new Chief Executive Officer as it continues to develop three key ports on Egypt’s navigable waterways.
Michael J. Power comes to NRPMC with a wealth of expertise after an impressive 36-year career in port management, development and logistics in the United Kingdom, the Bahamas and Mexico. As the former Head of Business Development for Hutchison Port Holdings (HPH) Europe, the world’s leading port investor, developer and operator, Power was responsible for leading business development in Ireland, Spain, Italy, Albania, Montenegro, Georgia and Turkey.
“We are pleased to welcome Power to NRPMC. Private sector involvement in port development is relatively new in the MENA region,” said Hisham El-Khazindar, Managing Director and Co-Founder of Citadel Capital, the Middle East and North Africa’s leading private equity firm with more than US$ 8.3 billion in investments under control. “Power’s international experience in this regard will be of high value to the company as we develop our ports in Egypt and Sudan.”
Prior to the business development position with HPH, Power was Executive Director of HPH Mexico for seven years, during which time he orchestrated the acquisition of four operating companies and oversaw a wide range of functions that included government relations and market development.
Power has also served as head of research and development and manager of planning and systems for the Port of Flexistowe, the largest container port in the UK and one of the largest in Europe.
NRPMC is currently developing three ports on Egypt’s navigable waterways: Cairo South in Tebbin, Cairo North in Imbaba and a third facility in Alexandria. The company is completing civil works and acquiring equipment for the Tebbin port. NRPMC will strategically target opportunities to acquire new ports to be tendered by the Egyptian River Transport Authority.
Power studied at Southampton University, the London School of Navigation and Lowestoft Maritime College.
The National River Port Management Company (NRPMC) is Citadel Capital’s Platform Company in the transportation and logistics sector, where it is building river ports and logistics hubs along the River Nile that it will own and operate. The company is currently developing three ports on Egypt’s navigable waterways. NRPMC will capitalize on the underdeveloped river transport sector in Egypt, helping providers of rive transport offer high-quality door-to-door service for its customers.
Citadel Capital is the leading private equity firm in the Middle East and North Africa. The firm focuses on building regional platform investments throughout the region in selected industries through acquisitions, turnarounds, and greenfields executed via Opportunity Specific Funds. Citadel Capital’s 19 OSFs now control Platform Companies with investments of more than US$ 8.3 billion in 14 industries, including mining, cement, transportation, food and energy. Since 2004, the firm has returned more than US$ 2.2 billion in cash to investors, more than any other private equity firm in the region.
For more information, please contact:
Ms. Ghada Hammouda
Head of Corporate Communications,
Citadel Capital (S.A.E.)
Tel: +20 2 2791-4440 begin_of_the_skype_highlighting +20 2 2791-4440 end_of_the_skype_highlighting • Fax: +20 22 791-4448
Mobile: +20 16 662-0002