DP World Cleared of Misconduct over Djibouti Terminal

The London Court of International Arbitration has
cleared DP World, one of the world's biggest port operators, of
all charges of misconduct over a concession to operate a
container terminal in Djibouti, Dubai's government said on
Tuesday.

In 2014 the government of the East African country lodged claims
accusing DP World, majority-owned by the Dubai government, of
illegal payments to secure a 50-year concession for the Doraleh
Container Terminal, the Dubai government said.

On Tuesday the court dismissed the claims and ordered the
claimants to bear the costs of the arbitration, Dubai said. DP
World has continued to manage the terminal during the dispute.

Reporting by Andrew Torchia

Feb 21, 2017

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