Dubai Ports World to Build Container Port in China – Report
February 12, 2007
Dubai Ports World (DP World), a global port operator, has been given approval to build a container port in China, according to the official Xinhua News Agency in China.
DP World, which has terminals in 24 countries, said it will spend CNY3.5 billion on a facility on China’s northeastern coast at Qingdao. The facility will start operating in 2008 or 2009, the report said.
DP World bought Peninsular and Oriental Stream Navigation (P&O) for $6.85 billion in 2005, giving DP World control of ports in New York and other US cities.