DP World concludes 2018 with focus on technology and sustainable solutions

DP World announced it has achieved growth in diverse fields for its global business portfolio through investments and acquisitions worth $3bn and extended support to environmental initiatives across the globe during 2018.

Some key 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 launch of a $3bn investment platform in India, acquisition of complementary businesses in Europe, India and Peru, and container port development projects in Africa. DP World also closed the 100% acquisition of Drydocks World LLC (Drydocks).

Read more: DP World introduces intelligent container storage system
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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 UAE nationals for future leadership roles.

DP World Group chairman and ceo Sultan Ahmed Bin Sulayem said: “2018 was a successful year and a period of strategic growth for DP World in diverse fields. We made major strides in our evolution into a company that focuses on smarter trade to make lives better through data driven logistics. Innovation, with an eye on future trade solutions and acquisitions designed to expand our global business footprint were key.”

Read more: DP World focuses on innovation and infrastructure

Bin Sulayem said the $3bn investment platform in India with the government’s National Infrastructure Investment Fund (NIIF) saw DP World acquire Continental Warehousing Corporation (Nhava Sheva) Ltd.

“Our activity in Africa gathered pace as we signed an agreement with the Suez Canal Economic Zone (SCZone) to implement the first phase of an integrated industrial and residential zone in Sokhna, Egypt. We will also soon build and operate a 1,000-hectare modern logistics hub outside of Bamako in the Republic of Mali. In the Democratic Republic of Congo, we announced a new concession for the management and development of a greenfield multi-purpose port at Banana, the first deep-sea port in the country along its small coastline of 37 kilometres,” he said.

“Last but not least, Ethiopia became a shareholder of the Port of Berbera as we invest in infrastructure to develop the Berbera Corridor as a trade gateway for the landlocked nation, which is one of the fastest growing economies in the world. Construction began on the expansion works in Berbera and we look forward to helping the region develop its economic potential.”

Elsewhere in Kazakhstan, DP World signed two framework agreements to run Special Economic Zones (SEZ) in Aktau and Khorgos which act as primary transit points for trans-Eurasian cargo trains.

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.

Read more: Video: DP World delivering smarter trade solutions for a better world

“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,” Bin Sulayem said.

Posted 02 January 2019

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Lee Hong Liang

Asia Correspondent

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