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Africa major growth market says DP World

DP World has reported a 22% increase in profits in the first half of 2015, with the greatest profit growth coming from Africa.
Ahmed bin Sulayem, chairman, DP World
Ahmed bin Sulayem, chairman, DP World

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DP World has reported a 22% increase in profits in the first half of 2015, with the greatest profit growth for the global port operator coming from its African, Middle Eastern and European operations.

Profits before tax went up to US $529-million as of 30 June 2015, from US $432-million in the first half of 2014, said the company.

Specifically, Africa has been singled out as a major growth market along with Iran and Latin America, by chairman Sultan Ahmed bin Sulayem. “Africa has a huge global advantage, significant construction activity and we are studying locations for potential expansion,” he said.

DP World’s parent company Dubai World recently launched P&O Ports with the intention of operating small to medium sized ‘troubled’ ports around the world, many of which will be located in Africa.

As for other locations, DP World is also surveying Iran for port operations and is in talks with authorities for investments potentially exceeding US $1-billion. According to Ahmed bin Sulayem, Iran has a good land bridge of rail that can connect the Silk Route from China to Europe.

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