Investment



December 31, 2018,   3:54 PM

DP World Pumped In $3 billion Investments In 2018

Nermeen Abbas

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The global trade enabler DP World said that it has invested $3 billion in acquisitions and expansions around the world during 2018.

The flagship projects and expansions include the launch of DP World Cargospeed with Virgin Hyperloop One, and the high bay storage system for containers at Jebel Ali.

The company has also launched a $3 billion investment platform in India, acquired complementary businesses in Europe; India and Peru, and container port development projects in Africa. It closed the 100% acquisition of Drydocks World LLC (Drydocks).

"Our partnerships and acquisitions too gathered pace in a wide range of locations and sectors. The $3 billion investment platform in India with the government’s National Infrastructure Investment Fund (NIIF) saw us acquire Continental Warehousing Corporation (Nhava Sheva) Ltd.", said DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem.

Complementary businesses were also added to the company's global portfolio in Peru and in Europe with the Unifeeder Group.

The global port operator was active also in Africa, as it signed an agreement with the Suez Canal Economic Zone to implement the first phase of an integrated industrial and residential zone in Sokhna, Egypt.

DP World will soon build and operate a 1,000-hectare modern logistics hub outside of Bamako in the Republic of Mali. It was also awarded new contracts in Ethiopia, and Kazakhstan.

Furthermore, DP has agreed on terms for the next phase of expansion for the DP World Prince Rupert Fairview Container Terminal on the Pacific Coast of Canada. While in Europe, a new cruise passenger terminal at DP World Limassol opened.

DP World operations include ports and terminals, industrial parks, logistics and economic zones, maritime services and marinas

The company's revenues grew by 14.4% in the first half of 2018, to $2.6 billion, driven by the volume growth across its markets and the impact of the new acquisitions.



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