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DP World
Dubai Ports (which comprises Dubai Ports Authority (DPA) and DP World) has been at the forefront of Dubai’s extraordinary transformation into one of the world’s leading trade and commerce hubs. DPA is focused on the home ports at Rashid and Jebel Ali which DPI formed in 1999 (as Dubai Ports International) to export this success internationally. DPI initially applied its expertise to managing ports in the Middle East, India and Europe. Its first project was at Jeddah Islamic Port (in 1999), where it collaborated with its local partner on the management and operation of the South Container Terminal (SCT). In 2003, SCT was the first terminal in the Kingdom of Saudi Arabia to exceed 1 million TEU and volumes in 2004 exceeded 1.3 million TEU. DPI then went on to develop successful operations at the ports of Djibouti (2000), Vizag, India (2002) and Constanta, Romania (2003).In January 2005 DPI transformed its network with the strategic acquisition of CSX World Terminals (CSX WT), the international terminal business of CSX Corporation, renaming itself DP World to reflect the change. This acquisition gave DP World a strong presence in Asia with major operations in Hong Kong and China as well as operations in Australia, Germany, Dominican Republic and Venezuela. Importantly for the future development and expansion of its network, DP World also acquired CSX WT’s strong project pipeline. One cornerstone project, which underlines DP World’s position as a major player in Asia, is the development of Busan Newport, South Korea. DP World has a 25% interest in and management contract for this 9-berth facility, which will have a capacity of 5.5 million TEU. It is currently under construction and is expected to be operational by 2006. Other significant projects will strengthen the network with further developments in India and the Middle East. In February 2005 DP World signed an agreement with the Cochin Port Trust (CoPT) to construct, develop and operate an international container transshipment terminal at Vallarpadam, Kochi, India. It is the largest single operator container terminal currently planned in India and the first in the country to operate in a special economic zone. The new terminal will make Kochi a key centre in the shipping world reducing India’s dependence on foreign ports to handle transshipment. In March 2005, DP World was awarded a 30 year concession to develop and operate the container terminal at the Port of Fujairah, in the UAE. This concession will enable DP World to streamline operations at the major container facilities of the UAE, and further increase the choices available to its customers.DP World also has interests in logistics businesses in Hong Kong and China, notably ATL, the market leading logistics operator based at Kwai Chung, Hong Kong.|
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