DPI to bid for Iraqi port management

DPI to bid for Iraqi port management ABU DHABI, Mar 21, 2004 (WAM) — Dubai Ports International (DPI) will bid for the management and operation of the Iraqi port of Umm Qasr, currently managed by Stevedoring Services of America, once the US authorities put the contract out to open tender later this year, a top official from DPI confirmed. The move follows Dubai Ports Authority’s (DPA) expectations that its international port management arm will see its volumes exceed those handled domestically by the end of this decade, despite annual double-digit growth in container handling at Dubai ports, according to Mohammed Sharaf, managing director of DPI, according to a report in +Khaleej Times.+ He said that DPI, which has been winning one international contract every year for the past three years, hopes to win another couple of new contracts this year be it in the Middle East or elsewhere, adding that DPI has acquired enough experience in this field. Last year, DPA handled 5.1 million TEUs (twenty foot equivalent units) through Dubai, while DPI?s operations in Jeddah, Djibouti and Visakhapatnam in India handled a combined total of 1.3 million TEUs. However, DPI’s volumes are expected to overtake volumes handled by DPA in the domestic market within the next five years. Although other ports have not seen the same growth as Dubai, DPI’s continued expansion overseas means that it is confident that its international operations will soon exceed Dubai’s volumes. WAM-VV To achieve this goal, DPI is pursuing a number of high-profile contracts within the Middle East, where it is one of eight short-listed bidders to manage Aqaba container terminal in Jordan, a contract due to be awarded in the coming weeks. It has also announced plans to develop and manage the port of Monte Christi in the Dominican Republic, with feasibility studies now under way. Last December DPI entered the European market with signing of an 18-year concession to manage container operations at the Romanian port of Constanza. A DPI delegation also visited Aden when PSA Corporation pulled out of Aden Container Terminal in Yemen, but industry sources say that this will unlikely result in a contract, as Aden is the closest rival to DPI?s operations in Djibouti. 13 07 CCCCQQE