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DP World forges ahead

DP World forges ahead

Dubai: Dubai Ports World expects to be handling 50% more containers at its 50-plus terminals around the world within the next three years, according to Chairman Sultan Ahmed bin Sulayem. Speaking on the fringes of the Davos World Economic Forum last week, he was certainly not deterred by the spat last year in which his Group's planned takeover of P&O's US port assets was thwarted over politicians' port security concerns. Quoted by Reuters, the DP World boss stated that there were more opportunities in the US, even after the ports row. The Group, which is planning to acquire a leading Paris hotel as part of its broadly-based diversification programme, expects to earn an internal rate of return of 20% on its investments over a five-year time span. "We expect to grow our port operations," he said, pointing out that the Group now operates 52 ports and has eight more under construction.  [29/01/07]

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