No bail out for DP World

31 Jan 2010

DPW's operation in the Port of Algiers will still expand

The government of Abu Dhabi has given neighbouring Dubai a loan of $10bn, part of which will go towards covering financial obligations currently faced by Dubai World.

However, the Dubai government has confirmed that port operator DP World and its debt will not be included in the overall financial restructuring of its parent company.

An analyst in Algeria claims that whatever the problems faced by Dubai World, DP World's involvement in various port and logistics projects in that country will not be greatly affected.

In Algeria, it operates the ports of Algiers and Djen Djen, where it is to invest ¢84m ($121m) over the next three to four years.

At Algiers, the container terminal will expand capacity to 800,000 teu through the acquisition of new handling equipment and increases in productivity. At Djen Djen, developments will turn this port into a major transhipment hub over the next few years.

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