DB World to invest 7.4 billion dirhams in expansion by 2024

DP World has allocated approximately 7.4 billion dirhams ($2 billion) in capital expenditures for 2024 to expand its business portfolio. The company plans to inject new funds and investments into seven regions within its global business portfolio, focusing on Jebel Ali Port in Dubai, London Gateway, internal logistics network in India, Dakar in Senegal, East Java in Indonesia, Callao in Peru, and Jeddah in Saudi Arabia. In 2023, DP World invested a total of 7.7 billion dirhams ($2.1 billion) in capital expenditures, with 48% in ports and stations, 30% in logistics services, and 21% in marine services.

The distribution of capital flows in 2023 was as follows: 76% in the Middle East, Africa, and Europe; 15% in Australia and the Americas; and 9% in Asia, the Pacific, and India. DP World expects to handle 102.6 million TEUs in 2024, with 67.5 million TEUs expected to be handled. The company allocated 67% of its total capital expenditures, amounting to $1.4 billion, to expansions and new investments, while $420 million was for replacement and substitution (20% share) and $273 million for maintenance work (13% share).