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FINANCIAL NEWS
Dubai’s DP World says work of T2 expansion on track
29 Oct 2012
(MENAFN) Dubai’s port operator DP World confirmed that the expansion of Terminal 2 at Jebel Ali Port is on schedule for completion in the first half of 2013, Arabian Business reported.
The world’s third largest container terminal operator said that construction works of Terminal 2 expansion is 60 percent complete. The project will increase capacity by 1 million TEU.
It added that work has also begun on the new four million TEU capacity Terminal 3. It is estimated to cost USD850 million, and is slated for completion in 2014.
Terminals 2 and 3 are set to take total capacity at the port to 19 million TEU by 2014 and will create 1,000 new jobs.
Once T2 and T3 are complete, Jebel Ali Port will be able to handle 10 of the next generation 18,000 TEU mega vessels at the same time – the only port in the region able to do so.
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