Thursday, Feb 10, 2011
DUBAI (Zawya Dow Jones)--Dubai-based ports operator DP World said Thursday it opened an inland container terminal in Lahore, Pakistan.
"Our investments here (Pakistan) are in direct response to the growth we have been experiencing in the region," said Mohammed Sharaf, Chief Executive Officer of DP World, said in an emailed statement.
DP World Lahore's project, also known as the Prem Nagar Dry Port, comes less than a month following DP World's opening of Terminal 2 in Port Qasim on January 12, part of DP World's three-phase development plans in Pakistan, the statement said.
The terminal will be managed and operated by DP World in a joint venture with Premier Mercantile Services, one of Pakistan's largest maritime terminal operators; and it constitutes the first Public Private Partnership project by Pakistan's Ministry of Railways.
DP World shares trade down 1.1% at $0.614 Thursday on the Nasdaq Dubai exchange.
-By Leila Hatoum, Dow Jones Newswires; +971-4-446-1686; leila.hatoum@dowjones.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
10-02-11 0821GMT
