DP World expands to Azerbaijan

08 September 2016

Port operator has signed several international deals in 2016

Dubai-based DP World has signed an advisory agreement with Azerbaijan’s Ministry of Economy and the Port of Baku for the development of the Alyat Free Trade Zone in the country.

The zone, which will span 20 square kilometres upon completion, is considered an important segment of the Eurasian trade corridor.

DP World has been capitalising on its success in operating the Port of Jebel Ali in Dubai and numerous other ports globally by offering advisory services to ports and port-centric free trade zones.

It signed the first contract with the Khorgos Special Economic Zone and Inland Container Depot in Kazakhstan in June. This was followed by a similar, but separate, deal with the Port of Aktau, the country’s main cargo and bulk terminal, which lies on the Caspian Sea.

Apart from these advisory contracts, DP World has recently signed contracts to expand and develop ports in Canada and Taiwan.

In July, it signed an agreement with the port authority of Saint John, New Brunswick in Canada to expand and operate the Rodney Container Terminal, and has also signed a memorandum of understanding (MoU) to develop Terminal 7 of Taiwan’s Kaohsiung Port.

DP World’s revenues and earnings grew 10.2 per cent and 50 per cent respectively in the first six months of 2016, compared with the same period in 2015.

The company is confident it will meet revenue expectations for the full year 2016 based on its strong performance for the first half of the year, despite a challenging market environment and slowing global trade.

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