Middle East

Nearly all of the 35 ports in the Middle East Gulf region are currently undergoing expansion, with $46.5bn already committed. This follows $38.2bn invested up to 2008 and $38.5bn alone in 2009.

Israels Government Companies Authority has begun the process to privatise the port of Eilat. Bids can be made up until May 19 for a 100% stake in Eilat Port Company Limited.

DP World is to pitch a one for 20 share consolidation to shareholders at its annual meeting on 11 May.

Abu Dhabi Ports Company has ditched its planned bonds issue later this year after failing to raise the necessary $7.2bn for its Khalifa Port and Industrial Zone development from private lenders.

DP World has denied that it is in talks to restructure the company and seek new terms for its debt. Rumours arose following its decision to sell off its equity stake in…

DP World has ceded management of Mina Zayed to Abu Dhabi Terminals. It had previously enjoyed a five-new management contract at the site. ADT is a joint-venture between Abu Dhabi Ports Company…