DP World in talks in Russia
Minister of Economic Development and Trade German Gref announced yesterday that the Russian government is in negotiations with investors from the United Arab Emirates on their inclusion in projects in future port special economic zones. Kommersant has learned that the investors involved are the Dubai Ports World company, the sixth largest port company in the world by turnover. The company already is already a presence at Russia's Vostochny (Eastern) Port. It was deprived of its American business last year under the pretext of guaranteeing national security.
Gref, speaking on Astrakhan, said that PSA International of Singapore was interested in working in a special economic zone in the Vostochny Port. That information was already known. “The United Arab Emirates has also shown great interest in forming a port zone in Russia. They may also become our partners,” he added.
The port business in the Emirates is concentrated around the state-owned Dubai Ports World. Gref held a working visit with the vice president of that company Jamal Majid bin Thaniah on March 18 along with new chairman of the Federal Agency for the Management of Special Economic Zones (RosOEZ) Mikhail Mishustin. Gref is not now accessible to the press. RosOEZ and the Transportation Ministry declined to comment on those talks.
DP World manages 42 ports in 22 countries and services 30,000 corporate clients. It bought the British Peninsula & Oriental Steam Navigation Co., the fourth largest port management company in the world in March 2006 for $7 billion. The turnover in the ports it manages was 42 million TEU (20-foot equivalent units) in 2006 and the total capacity of the ports under its management was 48 million TEU. After projects in India, China and the Middle East are completed in 2012, its capacity will reach 84 million TEU.
On February 22, 2006, U.S. President George W. Bush blocked the transfer of the U.S. assets of P&O to DP World. The American division of P&O operated ports in New York, New Jersey, Philadelphia, Baltimore, New Orleans and Miami. The U.S. government suspects the authorities of the United Arab Emirates of financing Al Qaeda and involvement in the terrorist attacks in New York on September 11, 2001. A consortium of American investors subsequently acquired the P&O American holdings. DP World owns 25 percent of the Eastern Stevedore Co., which loads and unloads ships in Vostochny Port. The remaining 75 percent is owned by Severstaltrans.
Gref, speaking on Astrakhan, said that PSA International of Singapore was interested in working in a special economic zone in the Vostochny Port. That information was already known. “The United Arab Emirates has also shown great interest in forming a port zone in Russia. They may also become our partners,” he added.
The port business in the Emirates is concentrated around the state-owned Dubai Ports World. Gref held a working visit with the vice president of that company Jamal Majid bin Thaniah on March 18 along with new chairman of the Federal Agency for the Management of Special Economic Zones (RosOEZ) Mikhail Mishustin. Gref is not now accessible to the press. RosOEZ and the Transportation Ministry declined to comment on those talks.
DP World manages 42 ports in 22 countries and services 30,000 corporate clients. It bought the British Peninsula & Oriental Steam Navigation Co., the fourth largest port management company in the world in March 2006 for $7 billion. The turnover in the ports it manages was 42 million TEU (20-foot equivalent units) in 2006 and the total capacity of the ports under its management was 48 million TEU. After projects in India, China and the Middle East are completed in 2012, its capacity will reach 84 million TEU.
On February 22, 2006, U.S. President George W. Bush blocked the transfer of the U.S. assets of P&O to DP World. The American division of P&O operated ports in New York, New Jersey, Philadelphia, Baltimore, New Orleans and Miami. The U.S. government suspects the authorities of the United Arab Emirates of financing Al Qaeda and involvement in the terrorist attacks in New York on September 11, 2001. A consortium of American investors subsequently acquired the P&O American holdings. DP World owns 25 percent of the Eastern Stevedore Co., which loads and unloads ships in Vostochny Port. The remaining 75 percent is owned by Severstaltrans.
