(MENAFN- Khaleej Times) DP World is expected to soon begin construction work on the Yarimca terminals in Turkey, a top official said on Sunday.
The terminal to be fully owned by DP World will be built on the Asian side of Istanbul with a capacity of 1.3 million TEUs capacity, upon completion.
"The project is a part of 10 major port developments being carried out by the DP World, as part of its strategy to invest in emerging as well as developed markets. These projects includes mega projects like London Gateway, Rotterdam Gateway, and terminal 2 and 3 at Jabel Ali, to take the domestic container handling capacity to 19 million TEUs," said Rashid Abdulla, senior vice-president, Global Operation, DP World, while speaking at a conference organised by Insead, the business school, on the theme of "the future of GCC's competiveness."
London Gateway will add two million TEUs capacity by the fourth quarter of next year, Rotterdam Gateway, which is under construction will be ready by 2014-15," Abdulla said.
DP World, the third biggest global container terminal operator, which is managing more than 60 terminals across six continents, will spend an estimated $3.7 billion between 2011-2015, on its infrastructure development projects, according to DP World's website. In the first half of 2012, DP World spent $260 million on its expansion projects, a presentation said. The company handled 27.5 million TEUs in the first half of the year, the vice president said, growing at 76 per cent year-on-year.
The ten under development projects will soar the handling capacity to 102 million TEUs in 2020, up against 69.4 million TEUs in 2011.
He said that the port developer and operating company is willing to take up Brown field as well as Green field development projects across its portfolio in 30-countries, depending on their commercial and financial viability.
The company is aiming at clinching the top slot as global port operator, after it entered into the top three biggest companies.
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