DPI signs MOUs with Gulf neighbours
Dubai Ports International (DPI), has signed Memoranda of Understanding with the port authorities of Abu Dhabi and Fujairah. These agreements could later lead to possible management contracts or concessions for port operations at these two UAE ports.
In 2004, parent group, DPA, recorded 24% growth in its handling operations and set a cargo traffic record of 6.4mTEUS for the year.
DPI in its four international port operations – Jeddah, Djibouti, Vizag and Constantza – achieved 26.5% growth year on year in 2004. Subsequently, in December 2004, it agreed to acquire CSX World Terminals.
Following the transaction, which is due to be completed in the first quarter of 2005, Dubai Ports will rank as a top 6 global ports operator.
On the MOUs, md Mohammed Sharaf commented: “We will now begin to develop joint strategies for both ports which could later result in a management contracts for port operation and development. We expect the negotiations and formulation of joint strategies to be completed in months.
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