Global terminal operator DP World is not giving up in its fight for its concession of a box terminal in Djibouti, warning other businesses to be wary about investing in the East African nation.
Eleven days ago Djibouti nationalised the Doraleh Container Terminal (DCT) on the Red Sea, having kicked DP World out of the country earlier this year in a bitter dispute.
Last month the Djibouti government refused to recognise a London court ruling which ruled in favour of Dubai-based port operator DP World in a dispute over the terminal.
DP World had had a concession in Djibouti since 2006. The government in Djibouti had tried to get DP World to renegotiate its contract since last December. In February the government terminated DP World’s contract.
“Investors across the world must think twice about investing in Djibouti and reassess any agreements they may have with a government that has no respect for legal agreements and changes them at will without agreement or consent,” a DP World spokesperson said in a release yesterday, signaling the terminal operator’s intent to pursue its fight against the Djibouti government.