Dubai: Djibouti’s government has cancelled DP World’s concession at the Doraleh Container Terminal, suggesting there was corruption involved in the terminal bidding process. Arbitration proceedings have begun.
DP World rejected the accusations and will “vigorously defend our position during arbitration,” the company said in an e-mailed response to Bloomberg. “
DP World and Djibouti’s government formed a joint venture in 2006 with the signing of a 30-year concession to operate a container terminal. The terminal was opened five years ago. [09/08/14]