FUJAIRAH : DP World is planning to build a new port and a container terminal on the United Arab Emirates’ east coast in a move that would reduce Dubai’s dependence on its flagship Jebel Ali Hub and bypass the Strait of Hormuz, the Financial Times reported on Monday.
The Dubai-based port operator is in talks to develop a brand new multipurpose port in the coastal area of Fujairah and a new terminal at the existing harbour in the emirate, the newspaper added, citing people familiar with the matter said.
Over the past two decades, DP World has become one of the UAE’s most internationally prolific entities, building a ports and logistics empire across the globe, but Jebel Ali remains the group’s and its owner Dubai’s crown jewel.
Shifting some of the port’s capacity outside Dubai marks a seismic change for the emirate, which has established itself as a global trade and finance hub partly off the back of Jebel Ali’s growth.
Source : FT
