Tuesday, Jun 02, 2009
(This story was originally published Monday)
DUBAI (Zawya Dow Jones)--Dubai-based port operator DP World (DPW.DIF) Monday said it has officially taken control of operations at the Port of Djen Djen in Algeria under a 30-year operating concession signed in May.
The addition of the port, which will now be known as DP World Djen Djen, is the second DP World concession in the north African country. In March, the port operator took over the Port of Algiers, which is now known as DP World Djazair, the company said in a statement.
DP World Djen Djen is Algeria's main terminus for the eastern part of the country, and will be developed as a transshipment hub for the western Mediterranean.
DP World Djazair, which handles more than 60% of the country's external trade, will be developed further to serve primarily domestic needs. Djen Djen currently handles only bulk traffic.
DP World now operates 49 terminals and has 12 new developments in 31 countries.
Shares, listed on the Nasdaq Dubai, were trading down 0.8% at $0.38 at 1046 GMT Monday.
By Stefania Bianchi, Dow Jones Newswires; +971 4 3644967; stefania.bianchi@dowjones.com
Copyright (c) 2009 Dow Jones & Co.
(END) Dow Jones Newswires
02-06-09 0355GMT
