The global trade enabler’s report card reflects a burgeoning business portfolio and comprises a mix of strategic investments, partnerships and acquisitions
DP World widened its engagement with revolutionary new technologies, diversified its global business portfolio through investments and acquisitions worth US$ 3bn and extended meaningful support to environmental initiatives around the world during 2018.
The headline projects were the launch of DP World Cargospeed with Virgin Hyperloop One and taking over leadership of the technology company, digital transformation of business operations across the global portfolio, the game changing high bay storage system for containers at Jebel Ali, the successful launch of a US$ 3bn investment platform in India, acquisition of complementary businesses in Europe, India and Peru, and container port development projects in Africa. DP World also successfully closed the 100% acquisition of Drydocks World (Drydocks).
People development was the other key area of focus through association with the Erasmus University in Rotterdam, to develop a strategic skills development programme and the 20Xel programme to recruit the brightest of the UAE nationals for future leadership roles.
“2018 was a successful year and a period of strategic growth for DP World in diverse fields. We made major strides in our evolution into a company that focuses on smarter trade to make lives better through data driven logistics. Innovation, with an eye on future trade solutions and acquisitions designed to expand our global business footprint were key,” commented Sultan Ahmed Bin Sulayem, DP World Group Chairman and CEO.
India, Africa expansion
DP World’s $3 billion investment platform in India with the government’s National Infrastructure Investment Fund (NIIF) saw the global trade enabler acquire India’s Continental Warehousing Corporation (Nhava Sheva, Mumbai)). Complementary businesses were also added to the global portfolio in Peru and in Europe with the Unifeeder Group.
Elsewhere activity in Africa gathered pace it signed an agreement with the Suez Canal Economic Zone (SCZone) to implement the first phase of an integrated industrial and residential zone in Sokhna, Egypt. DP World will also soon build and operate a 1,000-hectare modern logistics hub outside of Bamako, the capital of Mali. In the Democratic Republic of Congo (DRC), it announced a new concession for the management and development of a greenfield multi-purpose port at Banana, the first deep-sea port in the country along its small coastline of 37 kilometres.
The landlocked country of Ethiopia, one of the fastest growing countries in the world, became a shareholder of the Port of Berbera in Somaliland as DP World invest in infrastructure to develop the Berbera Corridor as a trade gateway, which is one of the fastest growing economies in the world.
CIS, North America forays
In Kazakhstan, DP World has signed two framework agreements to run Special Economic Zones (SEZ) in Aktau and Khorgos which act as primary transit points for trans-Eurasian cargo trains. DP World acquired a 51% stake in the Khorgos SEZ and 49% in the Aktau SEZ, with both facilities playing an important role in enhancing trade connectivity along the New Silk Route.
In the Americas, the enabler has agreed on terms for the next phase of expansion for the DP World Prince Rupert Fairview Container Terminal on the Pacific Coast of Canada. In Europe, a new cruise passenger terminal at DP World Limassol (Cyprus) opened providing world-class facilities and services for passengers.
“Despite the challenging global economic uncertainties, we have experienced continued revenue growth by focusing on high value cargo, operational efficiencies and consistently delivering value to our customers through smart solutions. We are committed to continue to build on the gains of the past year as we enter 2019,” concluded the Chairman& CEO of DP World Group.