DP World assumes control of Algiers container terminal

DP World assumes control of Algiers container terminal DP World said Monday it has tied up a deal with the Algerian government to operate and expand two ports in the North African country.
   The Dubai-based terminal operator will invest $108 million over the next three to four years to upgrade terminals in the capital of Algiers as well as Djen-Djen.
   The agreement will see DP World and the government become 50-50 shareholders in a joint venture vehicle, with DP World taking over operations of the container terminals immediately. The concession for the terminals is for 30 years.
   “The joint venture will redevelop the main container terminal at Algiers to expand capacity to around 800,000 TEUs, investing in new cranes, equipment and training to improve efficiency and productivity,” DP World said in a statement. “Currently, capacity is around 500,000 TEUs. The joint venture will also invest in expanding the new Djen-Djen facility in eastern Algeria over time, according to market demand. Djen-Djen has the potential to handle the new generation mega-vessels and become a major transshipment hub for the region.”
   “Algeria is particularly well-positioned, close to deep sea routes, to serve as a gateway to its substantial hinterland and to become a significant transshipment center over time,” said Jamal Majid Bin Thaniah, DP World executive vice chairman.