DP WORLD and the Government of Djibouti are going to London arbitration on overriding terms of the concession to operate Africa's largest container terminal.
"It is surprising the accusations come from a government whose parliament ratified our concession," the Dubai-owned port operator told Reuters. The company says it owns one-third of the Doraleh container terminal.
"The resulting agreement unfairly favoured DP World," the government said in a statement, which questioned payments made in winning the concession in 2000.
"We are disappointed that the government has chosen to take this action after working so closely with us as partners over the past 14 years," said DP World.
Following the collapse of negotiations with DP World, Djibouti launched arbitration proceedings in London. It can operate Doraleh while the case is pending. Neither side said when the case was likely to be resolved.
"We categorically reject the accusations and will vigorously defend our position during arbitration," a DP World spokesperson was quoted as saying.
WORLD SHIPPING
14 July 2014 - 22:32
DP World and Djibouti to fight out in court
DP WORLD and the Government of Djibouti are going to London arbitration on overriding terms of the concession to operate Africa's largest container terminal.
WORLD SHIPPING
14 July 2014 - 22:32
DP World and Djibouti to fight out in court Doraleh CT concession
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