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DP World eyes $239mn investment in Australia port

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Saturday, 26 July 2008
WORLD-WIDE: DP World already leases three container terminals at Brisbane. (Getty Images)
WORLD-WIDE: DP World already leases three container terminals at Brisbane. (Getty Images)

Dubai Ports World said on Saturday it signed a 40-year lease deal with the Port of Brisbane and is looking to invest 250 million Australian dollars ($239.5 million) in the port in response to market demand.

Under the deal, DP World will lease a container-only terminal for an initial 20-year term, with a 20-year option, Port of Brisbane Corp Chief Executive Jeff Coleman said in a statement.

DP World currently leases three container terminals at the port, it said.

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"DP World is looking at investing around 250 million Australian dollars at Fisherman Islands over time to expand and to re-engineer the terminal in response to market demand," DP World Chief Executive Mohammad Sharaf said in the statement. (Reuters)

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