Information  X 
Enter a valid email address

DP World PLC (91SN)

  Print      Mail a friend

Tuesday 27 August, 2019

DP World PLC

DP World partner with CCC to create Traders Market

RNS Number : 1351K
DP World PLC
27 August 2019
 

 

 

 

 

 

 

DP World partners with CCC to develop 'Traders Market'

Trader Market to be developed in Jebel Ali Freezone, Dubai

 

Dubai, UAE, 26 August 2019: DP World PLC announces a partnership with Zhejiang China Commodity City Group Company LTD (CCC) to develop the 'Traders Market' in Jebel Ali Freezone (JAFZA). DP World will hold a majority share in the 70/30 joint venture. The Traders Market project will span approximately 800,000 square metres, with Phase 1 development covering about 220,000 square metres. Phase 1 Capex is estimated at $150 million, with construction expected to start in 4Q2019 and take 24 months to complete.

 

The Traders Market will create the first smart Freezone market place in the Middle-East for the retail and wholesale industries and aims to serve the wider region with a population base of over 2 billion. The market will allow traders to benefit from lower supply chain costs by using the world-class multi-modal infrastructure available in Jebel Ali and Dubai. International traders Buyers will be able to procure bulk products in Dubai at wholesale prices with the shortest delivery times and will be able to service demand more efficiently.

 

Established in 1993, Zhejiang China Commodity City Group, based in Yiwu, in the Zhejiang district of China, is a leading developer and operator of merchandise trading platforms. CCC's operations include the Yiwu Permanent FairChina Yiwu International Commodities Fair and Yiwu Imported Commodities Fair. These marketplaces span an area of some 5 miles with approximately 75,000 traders and tenants. The footfall to the markets exceeds 200,000 visitors per day and attracts over 500,000 international traders annually.  

 

Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said: "We are excited to announce this partnership with China Commodity City to develop the Traders Market. This investment showcases our trade-enabling strategy as we look to catalyse trade and the movement of goods through removing inefficiencies and lowering supply chain costs.

 

We are delighted that CCC has chosen Jebel Ali Freezone as its exclusive investment in the region, highlighting DP Worlds ability to attract trade through its best-in-class infrastructure and emphasising Dubai's position as the regions premier trading hub.

 

When we acquired Jebel Ali Freezone in 2015, our vision was to attract clients that will not only provide lease income but also bring significant origin and destination cargo, promoting Dubai as a trading hub. This transaction helps us achieves this vision. We believe we have found the right partner in CCC, with the relevant expertise and experience to make this project a success. We look forward to a strong and enduring partnership."   

 

Mr. Zhao Wenge, Group Chairman, CCC Group

"The Middle-East/Africa region is critical for the Belt and Road Initiative (BRI), and we aim to serve this high-growth market through the Traders Market in Jebel Ali, Dubai. We have chosen Jebel Ali for its efficient infrastructure, business-friendly environment and significant trade with China. The CCC group has a wealth of experience and a strong reputation for developing and operating efficient large-scale trading marketplaces. Together with DP World we are confident this venture will be a success."     

 

-ENDS-

 

 

 

Investor Enquiries:

 

Redwan Ahmed                                               Amin Fikree

DP World PLC                                                  DP World PLC

Mobile: +971 50 5541557                                 Mobile: +971 56 6811553

Direct: +971 4 8080842                                   Direct: +971 4 8080923

[email protected]                          [email protected]

 

 

About DP World:

 

DP World is a leading enabler of global trade and an integral part of the supply chain. 

 

We operate multiple yet related businesses - from marine and inland terminals, maritime services, logistics and ancillary services, to technology-driven trade solutions.

 

We have a portfolio of over 150 operations in over 45 countries across six continents, with a significant presence in both high-growth and mature markets. We aim to be essential to the bright future of global trade, ensuring that everything we do contributes positively and sustainably to both the economy and society.

 

Our dedicated team of more than 50,900 employees from 120 countries cultivates long-standing relationships with governments, shipping lines, importers and exporters, communities, and many other important constituents of the global supply chain, providing quality value-added services today and tomorrow.

 

Container handling is the company's core business and generates more than 50% of its revenue. In 2018, DP World handled 71.4 million TEU (twenty-foot equivalent units) across our portfolio. With its committed pipeline of developments and expansions, the current gross capacity of 91 million TEU is expected to rise in line with market demand.

 

By thinking ahead, foreseeing change and innovating, DP World aims to create the most productive, efficient and safe trade solutions globally.

 

http://www.rns-pdf.londonstockexchange.com/rns/1351K_1-2019-8-26.pdf

 

 

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
MSCCKADQQBKKAFB

a d v e r t i s e m e n t