DP World to invest $136 million in Jebel Ali Port during ‘a challenging 2019’
Dubai’s DP World has committed $136.13 million for investments in Jebel Ali Port and Jebel Ali Free Zone this year, compared to $272.25 million invested in 2018, its chairman Sultan Ahmed Bin Sulayem said on Sunday.
The chairman said on Sunday that the port operator was facing a challenging 2019, and the US-China trade dispute had created uncertainty in the market.
However, Bin Sulayem said he expects both sides to reach an agreement, assuring that the company will be able to cope, whatever happens with the US-China trade negotiations.
DP World, one of the world’s largest port operators, works across six continents. Its majority shareholder is the government owned Dubai World Investment Company.
Recently, the port announced plans to buy a 71.3 percent stake, for $502 million, in Chile’s Puertos y Logistica SA, a port services firm in the South American nation, allowing the firm to further expand and serve customers at five key points in South America.