Dubai: A famous brand in shipping is set to make a comeback. Dubai’s Ports, Customs and Free Zone Corporation (PCFC) is rescusitating the P&O Ports name to focus on the development and operation of medium-sized, multipurpose ports across the world.
The state run P&O Ports will target port developments in emerging economies.
“The new company’s name, P&O Ports, reflects a rich marine heritage. We have the drive and ambition to take our company and this prestigious brand to new heights, identifying the next wave of opportunities for the development and operation of mixed cargo ports worldwide, particularly in emerging economies,” said Sultan Ahmed Bin Sulayem, chairman of PCFC.
Hitting the ground running, P&O Ports has already signed MoUs for port development in Madagascar, Somaliland and Albania.
Dubai’s global boxport operator DP World acquired P&O Ports back in 2006. DP World will continue to focus on major container terminal developments around the world separate to P&O Ports’s new direction.