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Thu 29 Mar 2018 08:56 AM

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No offer from Djibouti to buy stake in container terminal, says DP World

DP World has accused the government of illegally seizing control of the terminal

No offer from Djibouti to buy stake in container terminal, says DP World
UAE Minister of State for Foreign Affairs Anwar Gargash tweeted that the issue “is regrettable.”

Ports operator DP World has said that no offer has come from the government of Djibouti to buys its 33 percent stake in the country’s Doraleh Container Terminal.

In a statement, a DP World spokesman warned that any agreement or arrangement between the Djiboutian government and a third party would be illegal.

“[We] will persue our legal rights against any such third parties,” the spokesman noting, adding that the Djiboutian government had illegally seized control of the terminal, forcing DP World to begin arbitration proceedings before the London Court of International Arbitration.

Following Djibouti’s seizure of the terminal in February, UAE Minister of State for Foreign Affairs Anwar Gargash tweeted that the issue “is regrettable.”

“Agreements, commitments and reassurances didn’t hold to arbitrary measures against DP World,” he added.

DP World, for its part, said the seizure of the terminal marks the culmination of the Djiboutian government’s efforts to force DP World to renegotiate the terms of the concession, which was awarded by the government in 2006.

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