DP World has $3b in coffers for expansion

Dubai government-controlled DP World has US$3 billion available to fund its expansion plans but does not rule out going to the market in the future, its chief executive told Al Arabiya news channel.

Mohammed Sharaf said the company did not need additional liquidity until the end of 2012 but was studying ways to finance future expansion plans.

''We have $3 billion worth of liquidity ready, but that does not mean that we don't study for after 2012,'' said Sharaf.
The port operator''s container volumes in the third-quarter climbed eight percent, on a consolidated basis, to 7.3 million TEUs.

DP World''s new developments in Vallarpadam in India and Karachi in Pakistan remained on schedule to open later this year.

DP World''s first-half net profit after tax from continuing operations rose 10 percent to $206 million.
 

Source: Cargonews Asia