As part of the agreement, the operator will invest $155 million in a new super-post-Panamax ship-to-shore gantry crane and yard handling equipment with a view to increasing capacity to 1.7 million 20-foot equivalent units (TEUs) a year from 1 million TEUs at present.

The agreement follows DPI's recent acquisition of the global port assets of US-based CSX Corporation, which include footholds in China and Latin America. In January, DPI also signed a memorandum of understanding with Abu Dhabi's Mina Zayed to develop its container terminal with a view to eventually signing a management or concession contract (see page 24; UAE, MEED Special Report, 21:1:05, pages 44-45).