DP World plans to spend nearly US$3 billion (Dh11.01bn) this year and next on extending terminal capacity as the ports operator seeks to tap new markets and cater to larger ships.
The Dubai-based company yesterday posted a 21 per cent rise in profits last year to $555 million, up from $459m a year earlier. DP World made $249m from asset sales in Australia, Europe and the Middle East.
Earlier this month, DP World said it was selling its assets in two container terminals and a logistics centre in Hong Kong for $742m.
Part of the cash will be recycled into 11 new developments and expansion projects as it focuses its strength on fast-growing markets.
Read more: http://www.thenational.ae/thenationalconversation/industry-insights/shipping/dp-world-will-spend-dh11bn-to-lift-capacity
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