Archive for the ‘Dubai Ports World’ Category

Dubai to Build Seaport for China

September 25, 2007

BEIJING – Dubai Ports World has received approval to build a container port in China, a news report said Friday, a year after the United Arab Emirates company’s planned purchase of U.S. port operations caused a political uproar.

DP World is to invest 3.5 billion yuan ($450 million) in the facility in Qingdao on China’s northeastern coast, the official Xinhua News Agency said, citing a city government spokesman.

The terminal was scheduled to begin operating in 2008 or 2009, the report said.

DP World is one of the world’s largest port operators, with terminals in 24 countries.

It dropped a plan last year to buy operations at six U.S. ports after critics said it might endanger American security. They cited the UAE’s history, noting that money to finance the Sept. 11, 2001, terror attacks moved through its banking system and the government’s past support of Afghanistan’s Taliban government before the attacks.

-Various news sources

Related:
China Opens Strategic Seaport in Pakistan