DUBAI, United Arab Emirates (AP) -- Port operator DP World says it has signed a deal with the Algerian government to run ports in Algiers and Djen-Djen.
The agreement gives DP World a 50 percent stake in the two Algerian ports over the next 30 years. The Dubai government-controlled company says it will invest 84 million euros ($106.9 million) into the facilities over three to four years.
DP World and local authorities plan to boost capacity at the Algiers port by about 60 percent, giving it the ability to handle the equivalent of 800,000 standard shipping containers per year.
DP World says the Djen-Djen facility, in the eastern part of the country, is also likely to be expanded "over time."
Financial terms were not disclosed.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to firstname.lastname@example.org. Please provide detailed information.