DP World may restart development of Jebel Ali terminal 4 in 2018
DP World may recommence the expansion of the USD 1.6 billion fourth terminal at its flagship Jebel Ali port in 2018.
The expansion work was shelved last year owing to a softening in the container shipping market.
The company said last year it was slowing down work in Jebel Ali, the biggest port in the Middle East and North Africa, by postponing new additions to Terminal 3 into this year and postponing the construction of phase one of Terminal 4 which was scheduled for completion next year.
"Current capacity at Jebel Ali is 18 million Twenty Foot Equivalent Unit (TEU). At the same time, 1.3 million TEU will be added to T3 in the second half of 2017," DP World's chairman, Sultan bin Sulaymen, said in written answers to questions from The National of Abu Dhabi.
"T3 will have a capacity of 3.8 million TEU and will be the world's largest semi-automated facility. Once operational, total capacity at Jebel Ali will increase to 19.3 million TEU. Meanwhile, T4 expansion will take place in 2018 scheduled to market demand."
DP World announced in 2015 that it would add 3.1 million TEU in Jebel Ali by building phase one of the fourth terminal, increasing overall capacity to 22.1 million TEU by 2018.
At the time, Mr bin Sulayem said construction of Terminal 4 was in response to customer demand for greater capacity and in anticipation of an increase in trade in the lead-up to Expo 2020.
DP World's UAE ports, which included Fujairah container terminal before the concession ended this year, handled 3.7 million TEU in the first quarter, growing 1.8% compared with the same period last year.
Bin Sulayem said that "We are pleased to see the recent stability in the UAE and as we look ahead into 2017, we expect our new developments in Rotterdam (Netherlands), Nhava Sheva (India), London Gateway (United Kingdom) and Yarimca (Turkey) to drive growth in our portfolio.”
Tag Keyword: DP World , Jebel Ali Port , Container Shipping Market , Trade