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FINANCIAL NEWS
UAE DP assigns USD1.6b to upgrade Dubai port
29 Jul 2015
(MENAFN) DP World, one of the world’s largest port operators, is on track to build an USD1.6 billion container terminal in Dubai to increase capacity and support larger vessels.
Boosted by Dubai’s status as a growing center for commerce, Jebel Ali port, owned by DP World, has become one of the largest container ports in the region.
DP World said phase 1 of container Terminal 4 at the port will generate new capacity of 3.1 million twenty-foot equivalent units (TEU) by 2018.
“The new capacity is a response to feedback from customers expressing the need for more capacity at Jebel Ali due to an expected increase in trade in the run-up to Expo 2020,” chairman reported.
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