DP World wins 30-year Adelaide concession
Dubai, May 7, 2009
Global marine terminal operator DP World and Flinders Ports, one of Australia’s pre-eminent port operators, today announced a new partnership arrangement, including a 30-year concession for DP World’s operations in Adelaide.
The two companies have entered a joint venture partnership in DP World Adelaide, South Australia’s main container terminal, with DP World holding 60 percent and Flinders Ports 40 percent. Financial details were not released.
Anil Wats, DP World chief operating officer said: “We are very pleased to have finalised the concession for DP World Adelaide through to 2039. That continuity is important to allow us to expand the facility’s capacity to meet the future needs of customers. We have already invested heavily in the terminal and this allows us to invest further in DP World Adelaide. This will be positive for the local community, creating more jobs and supporting the growth of the South Australian economy.
“We see considerable potential in this market,” he said.
Vincent Tremaine, CEO of Flinders Ports, said: “The partnership with one of the largest marine terminal operators in the world is a real plus for Flinders Ports, and for Adelaide. We are excited by the opportunities our combined strength can bring to the region and look forward to a long and fruitful partnership.”
Jack Williams, senior vice president and managing director, DP World, Australia and New Zealand region, said: “Our terminals span the entire coastline of Australia, offering seamless services that allow shipping lines to maximise efficiency. DP World Adelaide is a vital link in that network. The extended concession and new partnership will benefit customers by providing certainty as well as more capacity.”
DP World has operated the terminal at Adelaide since 2005. DP World Adelaide employs 180 people, the majority drawn from the local community. - TradeArabia News Service