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DP World to continue US$1 billion annual investments

DUBAI: January 08, 2018. DP World invested US$1 billion in global trade services, supply chain diversification and smart technology last year.

DP World GroupThe company is reported as saying it will make the same level of investment for the next three years.

Last year's highlights included the terminal expansion at Prince Rupert in Canada, work on a new logistics centre in Kigali, Rwanda, a new terminal project in Posorja, Ecuador, ownership of Embraport in Brazil, consolidation of facilities in Pusan, South Korea and the start of a 30-year concession of the Berbera Port, Somaliland.

DP World chairman Sultan Ahmed Bin Sulayem commented: "The recovery of global trade in 2017 has been stronger than expected and we are pleased to have outperformed market growth once again. We are on course to deliver approximately 10.0% growth in gross volumes for 2017, and look forward to continued growth in 2018.
Bin Sulayem said the year was notable for strengthening its partnerships in Brazil, Ecuador, Kazakhstan, Cyprus, Somaliland, India, Egypt and Mali with a range of infrastructure investments.

The use of smart technology included discussions with Elon Musk on the potential uses of Tesla technology for renewable energy storage in Africa, India and Latin America; and the development of a Port Community System and integrated Customs processes in Kazakhstan.

"Our activities [are] aimed at providing added value to our customers at further points in the global supply chain by growing our logistics, industrial parks and freezone operations and smart digital trade solutions," he added.

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