Potential investors in Djibouti and the Horn of Africa are being warned that corruption, debt and poor governance pose significant investment risk factors.
Port giant DP World has partnered with Virgin to create a company to provide cargo-carriage systems that use a futuristic, high-speed tube-transport method described as the first new major transportation mode in a century.
Somalia's foreign minister has said DP World should reconsider its contract with Somaliland and work with Somalia’s federal authorities so the country’s sovereignty is not violated.
DP World has issued a statement warning that its concession agreement to operate the Doraleh Container Terminal (DCT) in Djibouti “remains in full force and effect.”
DP World confirmed it hasn’t received a purchase offer for its 33% stake in Doraleh Container Terminal following state-controlled Djibouti Ports and Free Zone Authority’s (DPFZA) claim that it is prepared to buy the company out to avoid legal action.
DP World has won a 30-year concession for the management and development of a greenfield multi-purpose port project at Banana, Democratic Republic of the Congo (DRC).
A dispute over plans to develop Somaliland’s Port of Berbera risks destabilising the Horn of Africa region, Somaliland’s foreign affairs minister has claimed.
DP World reported total revenue of $4.7bn and total profit of $1.2bn in 2017, marking increases of 13.2% and 7.3% respectively from 2016.
DP World may develop a US$1.2bn deepwater port in the Democratic Republic of Congo (DRC), according to documents published by a Senegalese whistle-blowing organisation.
A Port of Berbera investment deal between DP World, the state of Somaliland and Ethiopia has been declared “non-existent, null and void” by the Federal Government of Somalia.
DP World’s contract with Doraleh Container Terminal (DCT) was cancelled because of a dispute over terms and poor performance, claims the Djibouti Ports & Free Zones Authority (DPFZA).
COMMENT: DP World must be rueing the day it got involved with Djibouti. After more than a decade of positivity and significant investment in the country, its government has decided that the relationship has run its course and seized control of Doraleh Container Terminal, writes Carly Fields.
DP World has reacted swiftly and angrily after the government of Djibouti seized control of Doraleh Container Terminal (DCT), describing the government’s conduct as “particularly oppressive and cynical”.
DP World reports a record 70 million teu passing through its terminals in 2017 allowing the operator to achieve 10.1% volume growth.
Spiralling costs have given port users in Australia pause for thought. Dave MacIntyre reports
DP World and India’s National Investment and Infrastructure Fund (NIIF) have created a new platform to invest in ports, terminals, transportation and logistics businesses in the country.
DP World has stated it is on course to deliver approximately 10% growth in gross volumes for 2017.
Terminal operator DP World's fourth Global Volunteer Week programme saw employees across the world deliver over 60 projects in partnership with 47 organisations, bringing benefits to more than 5,000 people and clocking up a new record of nearly 4,700 volunteer hours during work time.
Empresa Brasileira de Terminais Portuários (Embraport) in Brazil will now be known as DP World Santos after the terminal operating giant acquired an additional stake of nearly 67% from Odebrecht Transport.
DP World has presented its vision for its Sokhna World Zone project which envisions a sustainable industrial area to attract foreign investment complete with a range of investment incentives.
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