DP World to invest nearly Dh7 billion in Chinese projects

Dubai-based ports operator DP World is investing nearly Dh 7 billion in two Chinese projects. The company has inked a $636 million (Dh 2.3 billion) deal to build a smart container terminal in the port of Qingdao by 2017 and another deal worth $1.2 billion (Dh 4.4 billion) to construct a second port in Tianjin city by 2018. The agreements were signed in the presence of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces , who has concluded his three-day official visit to China. DP World already operates three ports in China.