Posted on 04/09/2006 4:51:57 PM PDT by PrinceOfCups
Dubai: Dubai Ports World will invest Dh12.9 billion to develop and expand five ports in the next three years, a top company official said yesterday.
They include London Gate, Guangdong in China and Ho Chi Minh in Vietnam as part of the P&O deal, besides Kochi in India and Yarimca in Turkey.
Mohammad Sharaf, chief executive of DP World, told Gulf News his company had been selected by Pakistan to operate Gwa-dar port.
Pakistani government, which said the DP World offer was the best, is studying the terms of the deal to give the green light, he said. Meanwhile, Deutsche Bank is evaluating bids submitted by US companies to operate six US ports after DP World had accepted the transfer of the P&O deal, which was blocked by the US due to security concerns. "We will not accept any bids lower than their actual value since we paid a premium to acquire the six major US ports," Sharaf said.
DP World is planning to expand and will pump more money to develop and operate ports included in the P&O deal, he said.
This was a real debacle...
I'm sure the American company that winds up with the American ports will invest a whole lot more money than that /s
I'm still waiting for Congress to kick China out of California... /cue the crickets.
"I'm still waiting for Congress to kick China out of California... /cue the crickets."
Me too. Just goes to show you that the American Congress is worth every penny the Chinese have paid for it. While a distinctly criminal class, Congress, once sold, stays bought.
I was all for the Dubai deal, but since they didn't allow it they now need to kick China out as well.
"I was all for the Dubai deal, but since they didn't allow it they now need to kick China out as well."
I wasn't ever for the Dubai deal, or the China deal, or the Panama Canal deal, and I agree--America does need to kick China out.
Just needed a little money for the elections.
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