Dubai – Mubasher: DP World announced on Thursday that its concession agreement for the Doraleh Container Terminal (DTC) remains in force, according to an official statement.
DP World, listed on Nasdaq Dubai, confirmed that the agreement is still effective and warning that the Djiboutian government’s illegal seizure of Doraleh Container Terminal doesn’t give the right to any third party to violate the terms of the agreement.
DP World issued the statement in conjunction with news reports on the opening of the first phase of the Chinese-built International Free Trade Zone, in violation of DP World's exclusive management rights.
"This is yet another clear example by the Djiboutian Government of violating its contractual obligations and the rights of foreign investors.” A DP World Spokesperson said, as reported by Arabian Business.
