DB World pumps 7.4 billion dirhams into expansion in 2024

A document issued by DP World (DP World) revealed that the group has allocated about 7.4 billion dirhams ($2 billion) in capital expenditures to expand its business portfolio during the current year 2024.

The “DB World” document explained: The company aims to inject new funds and investments into 7 regions, within its portfolio of businesses around the world, concentrated in: Jebel Ali Port in Dubai, “London Gateway”, the internal logistics network in India, Dakar in Senegal, and East Java in Indonesia. , Callao in Peru, and Jeddah in Saudi Arabia.

The company invested a total of 7.7 billion dirhams ($2.1 billion) in capital expenditures in 2023, divided into shares: 48% in ports and stations, 30% in logistics services, and 21% in marine services.

The “DB World” document indicated that the distributions of capital flows in 2023 were as follows: 76% in the Middle East, Africa and Europe, 15% in Australia and the Americas, and 9% in Asia, the Pacific and India. The group expects to handle 102.6 million TEUs in 2024, and 67.5 million TEUs.

The “DB World” document stated that 67% of the company’s total capital expenditures, representing $1.4 billion, were allocated to expansions and new investments, while $420 million was in replacement and substitution with a 20% share, and maintenance work accounted for 13%, amounting to $273 million.