DP World has announced that it is in talks to operate a number of ports in Iran as it looks to strengthen cargo flows in the Middle Eastern region, according to Gulf News.
The terminal giant recently visited Iran to explore opportunities for expansion at the same time as the world’s leading shipping line Maersk, although the terminal operator did not officially announce its plans.
Iran has a land bridge of rail with which DP World believe they can access China’s Maritime Silk Road initiative through the Gulf states.
“We are very interested in the Iranian market and we believe it has great potential,” DP World Chairman Ahmed Bin Sulayem stated.
The company has recently announced its Q2 results, where it saw a 22% increase in profits, as a result of its decision to acquire Economic Zone World, where more than $3 billion has been invested in the zone and Fairview Terminals.
The group previously said that its current positioning will enable it to deliver both earnings growth and shareholder value in the long-term.
International sanctions have recently been lifted on Iran, paving the way for ports to consider opportunities for expansion.