New technology and sustainability focus drove strategic expansion for DP World in 2018
Global trade enabler DP World deepened its engagement with new technologies, and diversified its global business portfolio through strategic investments and acquisitions worth US $3 billion in 2018.
“2018 was a successful year and a period of strategic growth for DP World in diverse fields,” said DP World group chairman and CEO Sultan Ahmed Bin Sulayem. “We made major strides in our evolution into a company that focuses on smarter trade to make lives better through data driven logistics. Innovation, with an eye on future trade solutions and acquisitions designed to expand our global business footprint were key.”
The headline projects were the launch of DP World Cargospeed with Virgin Hyperloop One and taking over leadership of the technology company, digital transformation of business operations across the global portfolio, the game-changing high bay storage system for containers at Jebel Ali, the successful launch of a US $3 billion investment platform in India, acquisition of complementary businesses in Europe, India and Peru, and container port development projects in Africa.
DP World also successfully closed the 100% acquisition of Drydocks World LLC (Drydocks).
People development was the other key area of focus through association with the Erasmus University in Rotterdam, to develop a strategic skills development programme and the 20Xel programme to recruit the brightest of the UAE nationals for future leadership roles.
“Our partnerships and acquisitions gathered pace in a wide range of locations and sectors. The US $3 billion investment platform in India with the government’s National Infrastructure Investment Fund (NIIF) saw us acquire Continental Warehousing Corporation (Nhava Sheva) Ltd. Complementary businesses were also added to our global portfolio in Peru and in Europe with the Unifeeder Group,” added Sulayem.
“Our activity in Africa gathered pace as we signed an agreement with the Suez Canal Economic Zone (SCZone) to implement the first phase of an integrated industrial and residential zone in Sokhna, Egypt. We will also soon build and operate a 1,000-hectare modern logistics hub outside of Bamako in the Republic of Mali,” he said. “In the Democratic Republic of Congo, we announced a new concession for the management and development of a greenfield multi-purpose port at Banana, the first deep-sea port in the country along its small coastline of 37 kilometres.”
“Despite the challenging global economic uncertainties, we have experienced continued revenue growth by focusing on high value cargo, operational efficiencies and consistently delivering value to our customers through smart solutions,” added Sulayem. “We are committed to continue to build on the gains of the past year as we enter 2019.”