DP World vows to defend rights in Djibouti port
The Dubai-based ports operator DP World says it will continue to defend its rights as a shareholder in the Doraleh Container Terminal (DCT) in Djibouti.
The statement comes after the African nation’s government ordered the nationalisation of the facility by issuing a presidential decree.
Djibouti’s decision to escalate the dispute comes barely a week after a UK tribunal issued a restraining order against the termination of DP World’s contract to run the terminal.
In February, authorities in Djibouti abruptly took control of the facility, which the Dubai firm had built and operated.
“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.