Dubai’s DP World, partners to invest $1.9 bln in China ports

16/12/2015 Argaam

Dubai ports operator DP World and partner firms will be investing $1.9 billion in two China port terminals by 2020.

 

The projects comprise an investment of $636 million to build a smart container terminal in Qingdao and construction of a new port in Tianjin City at a cost of $1.2 billion, according to WAM, the United Arab Emirates’ state-owned news agency.

 

The Qingdao project is expected to complete in 2017 and the deadline for Tianjin port has been set for 2018.

 

Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, is on an a three-day visit to China.

 

The two countries on Tuesday announced a number of deals, including a joint strategic investment fund worth $10 billion.

 

Al-Nahyan posted on his twitter feed on Tuesday that DP World planned to invest $1.9 billion, without giving further details.

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