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Thursday, 1 November 2018

Holding Co for Maritime, DP World sign shareholders structure agreement in 6 October dry port JV

The Holding Company for Maritime and Land Transport and UAE-based port operator DP World signed an MoU outlining the shareholder structure for the JV under which they will bid on the USD 100 mn 6 October dry port, according to Al Mal. Under the MoU, DP World will own 80.1% of the company, and the Holding Co will hold a 19.9% stake. The companies signed an agreement with the Suez Canal Authority back in May to form a consortium to compete in the tender for the project, which is expected to launch in 4Q2018, with the winners set to be announced before the end of the year. The port will take two years to complete.

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