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PRESS RELEASE

March 22 2015: The Dubai government's Ports, Customs and Free Zone Corporation (PCFC) has re-launched P&O Ports as a new company to focus on developing and operating medium-sized, multi-purpose ports worldwide.

The move coincides with a strengthening of ties between the UAE and the Maldives as global marine terminal operator DP World signs a Memorandum of Understanding (MoU) with Maldivian government officials in Dubai for the development of the archipelago's ports and logistics industry.

The meeting, which was attended by a Maldivian government delegation including Minister of Tourism Ahmed Adeeb, Minister of Economic Development Mohamed Saeed and Minister of Youth and Sports Mohamed Maleeh Jamal, and DP World Chairman HE Sultan Ahmed Bin Sulayem with other key company officials, provided an opportunity to highlight DP World's global portfolio and expertise in assisting partners with the development of their infrastructure and transport networks.

DP World Chairman HE Sultan Ahmed Bin Sulayem said: "The Maldives has been growing rapidly, driven largely by its tourism development. We are working with them to help diversify the economy through building infrastructure, logistics and transport links needed to make this happen.

"The UAE has much experience and expertise in this area thanks to the vision of our leaders to explore new growth strategies. We are proud to share our expertise with the Maldives as they develop their capabilities in the global supply chain industry."

The signing of the MoU is a result of several meetings over the last few months between DP World and the Maldivian government. These include discussions between HE Bin Sulayem and the President of the Maldives HE Abdulla Yameen Abdul Gayoom in July and September 2014.

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