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DP World plans major investments worth $3 billion

thenationalnews.com · 6h · first reportShare

DP World plans to invest $3 billion this year in the UAE and other countries in Asia and Africa, the Dubai-based ports operator said as it posted its first-half results. The new investments will be made in the Democratic Republic of Congo, India and Saudi Arabia, the company said in a statement on Thursday. “In the UAE, we are expanding our gateway network with two new terminals in Fujairah, extending the Jebel Ali ecosystem through an integrated supply chain,” DP World chairman Essa Kazim said. “This will provide cargo owners with greater flexibility, more choice and enhanced supply chain resilience, while reinforcing our confidence in the UAE's future as a leading global trade and logistics hub.” DP World is planning to develop two new deepwater terminals in the UAE, creating a direct route for global trade without vessels having to pass through the Strait of Hormuz. In July, the company signed a deal in principle with the Fujairah Ports Authority under a 50-year concession to develo