New investment to increase capacity to 19 million TEU
Dubai, United Arab Emirates - Monday, December 5th 2011 [ME NewsWire]
DP World today announces its intention to expand flagship port Jebel Ali in the UAE by creating an additional 4 million TEU capacity, resulting in total capacity at Jebel Ali reaching 19 million TEU by 2014.
DP World will be investing around $850 million over three years adapting 1,860 metres of quayside and 70 hectares of yard from an existing general cargo berth into a new container terminal within the existing container port. The investment will be financed from existing cash resources and cashflow.
The new terminal, which will operate with the largest, most efficient quay cranes and have a draft of 17 metres, will be able to handle the world’s largest container vessels planned for the future.
In October 2011 DP World announced record container volumes in the UAE region for 2011, with growth of 11% so far this year and over a million TEU per month being handled in the port. The development of this new capacity at Jebel Ali will ensure we continue to meet the growth in demand from our customers who look to DP World to provide a first class service right across the portfolio.
Sultan Ahmed Bin Sulayem, Chairman, DP World said:
“Further investing in Jebel Ali, building a new container terminal as well as expanding the existing terminal, as we announced recently, will support the continued growth of Dubai and the UAE and enhance the country’s status as the trade centre of the Middle East. Over the past 40 years, our facilities have contributed significantly to the development of Dubai, the UAE and the wider region through the provision of efficient supply chain services. We remain steadfastly committed to continuing to meet the needs of the region’s markets.”
Mohammed Sharaf, Chief Executive commented:
“The UAE has seen remarkable growth this year and the terminal is currently operating at very high levels of utilisation reflecting its strong position as a hub for the fast growing regions of the Middle East, Indian subcontinent and Africa.
With GDP forecasts reflecting a continuation of growth across the region and container shipping lines ordering larger vessels, this expansion will ensure our customers will have the additional capacity required and a continuation of the high levels of efficiency they have come to expect from DP World.”
Mohammed Al Muallem, Senior Vice President and Managing Director, DP World, UAE region said:
“We have listened to our customers, who have told us that Jebel Ali continues to be both a gateway for cargo and a vital hub for facilitating trade growth throughout the region, and needs to be able to handle the new generation of mega vessels. In response, we are creating new container handling capacity to meet those needs, offering the efficient and cost effective services our customers have come to rely on. In doing so, we are also creating around 1000 jobs directly at the new terminal.”
-ENDS-
About DP World
DP World operates more than 60 terminals across six continents(1), with container handling generating around 80% of its revenue. In addition, the company currently has 10 new developments and major expansions underway in 10 countries.
DP World aims to enhance customers’ supply chain efficiency by effectively managing container, bulk and other terminal cargo. Its dedicated, experienced and professional team of nearly 30,000 people serves customers in some of the most dynamic economies in the world.
The company constantly invests in terminal infrastructure, facilities and people, working closely with customers and business partners to provide quality services today and tomorrow, when and where customers need them.
In taking this customer-centric approach, DP World is building on the established relationships and superior level of service demonstrated at its flagship Jebel Ali facility in Dubai, which has been voted “Best Seaport in the Middle East” for 17 consecutive years.
In 2010, DP World handled nearly 50 million TEU (twenty-foot equivalent container units) across its portfolio from the Americas to Asia. With a pipeline of expansion and development projects in key growth markets, including India, China and the Middle East, capacity is expected to rise to around 95 million TEU by 2020, in line with market demand.
www.dpworld.com
(1) As of September 2011. Includes non-container terminals.
Contacts
Natasha Bukhari
Global Corporate Communications Manager
DP World
Tel: +97156 6821699
Natasha.Bukhari@dpworld.com
Hasaad Communications:
Sanaa Maadad
Director, Media
Hasaad Communications
Tel: +97150 5522610
sana@hasaad.ae
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