Dubai-based DP World plans to nearly double its investments this year as the world’s fourth-largest port operator increases its capacity by more than 14 per cent.
Chairman Sultan Ahmed bin Sulayem said there are plans to spend between $1.4bn and $1.9bn in 2015, compared with $1bn last year. The operator will invest between $500mn and $700m from 2016 to 2020.
Capacity at DP World will rise to more than 80 million twenty-foot equivalent units this year from 70 million units last year through expansions in Dubai, Turkey, Rotterdam and India.