The world's third biggest port operator is planning to expand into Latin America and Africa. The move is designed to avoid the high cost of investment in the United States according to the company's chairman.
According to Sultan Ahmed bin Sulayem in an interview last March 22, "We are well placed in Latin America in key markets. There are other markets we would like to go to. We do negotiate with certain countries in Latin America to acquire ports."
Currently, DP World operates more than sixty terminals located in six continents and confirmed it has earned from sales of assets in Australia, Europe and the Middle East. It also is selling its stakes in container terminals and logistics center located in Hong Kong for the price of US$742 million.
The chairman continued, "There are uncertainties in the market. All I can only talk about there are the first two months of this year, which we did exactly according to what we expected. The rest of the year, we have to see."
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