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FINANCIAL NEWS
Dubai World plans to invest USD3.70b by 2014
16 Apr 2012
(MENAFN) Dubai World’s (DW) chairman, Sultan bin Sulayem, said that by 2014, the company would invest USD3.70 billion in new projects, reported Emirates 24/7.
Bin Sulayem added that the investments are part of the firm’s constant expansion strategy worldwide.
He also said that the amount would cover 10 large expansion projects in promising markets, of which 79 percent would be in Europe, the Middle East and Africa, around 18 percent in Australia and the Americas and 3 percent in Asia Pacific.
Moreover, DW had undergone a number of expansion projects following the construction of Jebel Ali port, adding that the free zone adjoining that port succeeded in attracting over 6,500 firms.
It is worth noting that in 2011, DW, one of the largest ports companies in the world, invested around USD462 million, mostly in the company’s Jetway project in London.
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