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Djibouti scraps DP World port concession

: Thursday, July 10 - 2014 @ 01:12

The government of Djibouti has said it rescinded DP World’s concession at the Doraleh Container Terminal after finding evidence of corruption and has begun arbitration proceedings, Bloomberg has reported. The agreement was cancelled after an investigation that showed an accord signed with the company “unfairly favoured” Dubai-based DP World, said London-based communications consultancy, Consulum, on behalf of the government. DP World rejected the accusations and said it will “vigorously defend our position during arbitration.” “We are disappointed that the government has chosen to take this action after working so closely with us as partners over the past 14 years.”

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Thursday, July 10- 2014 @ 1:12 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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