By: Amr Adel
Dubai – Mubasher: DP World’s expansion in the US markets is not excluded if good economic opportunities are available, according to Sultan Ahmed Bin Sulayem, group chairman and CEO at DP World.
“There is no specific expansion opportunity in the current period, but we are always considering all available opportunities,” Bin Sulayem added.
DP World’s operations are growing in Africa and Latin America, and were not affected by US President Donald Trump’s policies.
Trump’s protectionist policies will not affect trade movement, Bin Sulayem added.
The global ports operator’s capital expenditure reached $1.2 billion this year, with investment planned into Jebel Ali (UAE), Prince Rupert (Canada), Berbera (Somaliland), Dakar (Senegal) and London Gateway (UK).
The company will also expand in Ecuador, where it won a 50-year concession last year to develop a port in the country's south-west, Bin Sulayem added.
The operator raised £650 million 20- and 30-year multi tranche term financing placed with pension funds, insurance companies and financial institutions for London Gateway Port, and $603 million 7-year bank loan for the Canadian business.
Imposing fees on navigation companies in Egypt’s market does not have any effect, he said, adding that his company will hold talks with the country’s government if its activities are affected by such fees.
Translated by: Julian Nabil
