CHINA / Regional |
Dubai Ports said to win China deal(CNN.com)Updated: 2007-01-30 11:01 Dubai Ports World, which sparked political controversy in 2006 when it tried to buy major US port assets, has won approval for a new $448 million container terminal in northern China, according to a news report Monday. The company, based in the Emirate of Dubai, has earned permission to build and operate four shipping ports in the city of Qingdao, the Wall Street Journal reported. The ports operator has expanded rapidly in recent years, becoming the world's fourth-largest container port operator, primarily through acquisitions. Officials with the company could not be reached by the paper, the Journal said. DP World operates around 50 terminals overall around the world, according to Hoover's. It is owned by the government of Dubai. DP World competes with Hutchison Whampoa (Charts), Orient Overseas and PSA International in the ports business. |
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