DP World plans major investments worth $3 billion

DP World, a Dubai-based ports operator, announced plans to invest $3 billion this year in various countries, including the United Arab Emirates, India, and the Democratic Republic of Congo. The investments will primarily focus on expanding the company's gateway network and infrastructure. DP World chairman Essa Kazim highlighted the expansion of the Jebel Ali ecosystem through new terminals in Fujairah, aiming to provide cargo owners with greater flexibility, more options, and enhanced supply chain resilience.

The company also plans to develop two deepwater terminals in the UAE, creating a direct route for global trade that avoids the Strait of Hormuz. In July, DP World signed an agreement with the Fujairah Ports Authority for a 50-year concession to develop two sites on the UAE's east coast. Despite a 39% drop in first-half profit, DP World reported a 13% increase in revenue, reaching $12.7 billion.

The company attributed the profit decline to disruption caused by the Iran war, which temporarily reduced vessel traffic into Jebel Ali Port. However, DP World's infrastructure in the Jebel Ali Port remains fully operational. Gross container volumes, excluding Jebel Ali Port, have increased by 5.4% annually to 39,681 20-foot equivalent units.