DP World has reportedly signed an agreement which would see the port and terminal operator invest US$1.9 billion in two of China’s ports, according to Gulf News.
$1.2 billion will be spent on building a new port in Tianjin. This follows news that Tianjin Port had been involved in a massive explosion, where more than 155 people were killed.
More than $630 million will also be invested into Quanzhou port to build a smart container terminal, which will have a 2017 completion date.
Sultan Bin Sulayem, Chairman of DP World, and the Chairman of Quanzhou Port Group signed the port agreement, with Mr Sulayem saying that as well as reducing carbon emissions, the new port will have an annual throughput capacity of 1.2 million TEU.
DP World has been active in many port projects in recent months. Its most recent project being a study with Canada’s Prince Rupert Port Authority that looks into expanding the Canadian port’s Fairview Container Terminal.
It is also working to automate its Container Terminal 4 facility in Dubai with the help of power and automation provider ABB. The first phase of the terminal project is to add 3.1 million TEU to the Port of Jebel Ali by 2018.