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DP World gains approval for Yemen port deal

By Mohamed Mokhashef

Wednesday, 5 December 2007 10:30 AM

Dubai-based DP World, the world's fourth-largest container port handler, won Yemeni government approval to help operate and develop Aden port, Yemen's state news agency said, citing the cabinet.

DP World and the Gulf of Aden Ports Corporation will set up a an equally joint venture to operate the harbour, Saba said on Tuesday. It did not give further details.

DP World chief executive Mohammed Sharaf said the approval was an "important first step" towards creating the joint venture, according to spokeswoman Sarah Lockie.

Yemen and DP World reached a preliminary accord for the UAE company to run the Aden container terminal, Yemen's transport minister was quoted as saying on Saturday. (Reuters)

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