DP World is planning to build a new port and a container terminal on the United Arab Emirates’ east coast in a move that would reduce Dubai’s dependence on its flagship Jebel Ali hub and bypass the Strait of Hormuz, the Financial Times reported on Monday.
The Dubai-based port operator is in talks to develop a brand new multipurpose port in the coastal area of Fujairah and a new terminal at the existing harbour in the emirate, the newspaper added, citing people familiar with the matter.
Read More: California, 11 states suing to block Paramount’s $110 billion Warner Bros dealReuters could not immediately verify the report.Add as a Reliable and Trusted News Source(You can now subscribe to our Economic Times WhatsApp channel)
