NOVA MEDIA PUBLISHING INC.

DP World Invests $3 Billion in 2018

4.1.2019

DP World, Dubai-based global operator of shipping terminals, diversified its global business portfolio through investments and acquisitions worth $3 billion in 2018, the company said.

It also deepened its engagement with revolutionary new technologies and extended meaningful support to environmental initiatives around the world during the year, achieving strategic growth in diverse fields, it said.

The headline projects were the launch of DP World Cargospeed with Virgin Hyperloop One and taking over leadership of the technology company; digital transformation of business operations across the global portfolio; the game-changing high bay storage system for containers at Jebel Ali; the successful launch of a $3 billion investment platform in India; acquisition of complementary businesses in Europe, India and Peru; and container port development projects in Africa.

DP World also successfully closed the 100% acquisition of Drydocks World (Drydocks).

People development was the other key area of focus through association with the Erasmus University in Rotterdam, to develop a strategic skills development programme and the 20Xel programme to recruit the brightest of the UAE nationals for future leadership roles, it said.

The $3 billion investment platform in India with the governments National Infrastructure Investment Fund (NIIF) saw us acquire Continental Warehousing Corporation (Nhava Sheva) Ltd. Complementary businesses were also added to our global portfolio in Peru and in Europe with the Unifeeder Group.

In the Americas, DP World agreed on terms for the next phase of expansion for the DP World Prince Rupert Fairview Container Terminal on the Pacific Coast of Canada. In Europe, a new cruise passenger terminal at DP World Limassol opened providing world-class facilities and services for passengers.

Bin Sulayem concluded: Despite the challenging global economic uncertainties, we have experienced continued revenue growth by focusing on high-value cargo, operational efficiencies and consistently delivering value to our customers through smart solutions. We are committed to continue to build on the gains of the past year as we enter 2019.

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