DP World last week announced its intention to expand flagship port Jebel Ali in the UAE by creating an additional four million TEU capacity, resulting in total capacity at Jebel Ali reaching 19 million TEU by 2014i.
DP World will be investing around $850 million over three years adapting 1,860 metres of quayside and 70 hectares of yard from an existing general cargo berth into a new container terminal within the existing container port. The investment will be financed from existing cash resources and cash flow.
The new terminal, which will operate with the largest, most efficient quay cranes and have a draft of 17 metres, will be able to handle the world’s largest container vessels planned for the future.
In October 2011 DP World announced record container volumes in the UAE region for 2011, with growth of 11% so far this year and over a million TEU per month being handled in the port.
The development of this new capacity at Jebel Ali will ensure we continue to meet the growth in demand from our customers who look to DP World to provide a first class service right across the portfolio.
Chief Executive Mohammed Sharaf commented: “The UAE has seen remarkable growth this year and the terminal is currently operating at very high levels of utilisation reflecting its strong position as a hub for the fast growing regions of the Middle East, Indian subcontinent and Africa. With GDP forecasts reflecting a continuation of growth across the region and container shipping lines ordering larger vessels, this expansion will ensure our customers will have the additional capacity required and a continuation of the high levels of efficiency they have come to expect from DP World.”