DP World Paid 24% Less Than Rivals For Dakar Port Deal -Paper

Wednesday, Jun 13, 2007

DUBAI (Dow Jones)--Dubai Ports World, one of the world leaders in ports management, paid EUR382 million to develop and operate Senegal's Dakar port concession, EUR118 million, or 24%, less than EUR500 million from a French-led consortium, French newspaper Le Monde reported Tuesday.

The paper said that DP World has won the contract despite competitive bids from two other candidates, Danish firm Maersk, the global leader in container shipping, and a consortium led by France's Bollore SA (BOL.FR) that offered EUR500 million for the port, some 30% more than the winning offer.

Bollore's offer was rejected by the Senegalese government, although the consortium, which included leading container shipping group CMA-CGM, considered itself to be the best candidate, the paper said.

Bollore, which has operated in Senegal for 80 years, might request the government to re-examine its proposal, the paper said.

Newspaper Web site: http://lemonde.fr

-Dubai Bureau, Dow Jones Newswires; +9714 364 4962; djnews.dubai@dowjones.com

(END) Dow Jones Newswires

13-06-07 0735GMT