DP World Chairman Sultan Ahmed bin Sulayem signed an agreement with the Algerian Government that will allow DP World to operate, expand and run the ports of Algiers and Djendjen.
Economic Advisor to the Algerian Embassy in Abu Dhabi Abdul Malik Naouj said the agreement signed with the Algerian Port Authority allows DP World to develop and expand work at the two ports with total investments of $850 million (Dh3.1 billion).
Of this, $700m will used in the expansion and modernisation of the Port of Algiers and $150m will go to the development of Djendjen.
The agreement will allow DP World to acquire 50 per cent of the volume of work and container handling at the two ports, while the remaining percentage will be owned by the Algerian Ports Authority.
Algiers Port is the most important terminal in the country and handles 47 per cent of the state's port activity. It receives 400,000 containers a year, and sources at DP World expect container handling operations to double to around 800,000. Djendjen, 250km east of the capital Algiers, has a free zone and an industrial complex.
DP World held extensive talks with Algerian Minister of Industry and Investment Hamid Temmar to win the management and operation of the two Algerian ports.
According to Naouj, the negotiations were successful due to many factors. The first of which is the important geographical location that the Algiers Port enjoys. The second factor is the business association with a world-renowned port company such as DP World.
DP World operates 42 terminals in 22 states. It is the third biggest port operator in the world. It hit a record in the number of handlings during the second half of 2008 when it handled 13.6 million containers.
Economic Advisor to the Algerian Embassy in Abu Dhabi Abdul Malik Naouj said the agreement signed with the Algerian Port Authority allows DP World to develop and expand work at the two ports with total investments of $850 million (Dh3.1 billion).
Of this, $700m will used in the expansion and modernisation of the Port of Algiers and $150m will go to the development of Djendjen.
The agreement will allow DP World to acquire 50 per cent of the volume of work and container handling at the two ports, while the remaining percentage will be owned by the Algerian Ports Authority.
Algiers Port is the most important terminal in the country and handles 47 per cent of the state's port activity. It receives 400,000 containers a year, and sources at DP World expect container handling operations to double to around 800,000. Djendjen, 250km east of the capital Algiers, has a free zone and an industrial complex.
DP World held extensive talks with Algerian Minister of Industry and Investment Hamid Temmar to win the management and operation of the two Algerian ports.
According to Naouj, the negotiations were successful due to many factors. The first of which is the important geographical location that the Algiers Port enjoys. The second factor is the business association with a world-renowned port company such as DP World.
DP World operates 42 terminals in 22 states. It is the third biggest port operator in the world. It hit a record in the number of handlings during the second half of 2008 when it handled 13.6 million containers.