DP World, a Dubai-based port operator, is planning to build a new port and a container terminal on the United Arab Emirates’ east coast in a move that would reduce Dubai’s dependence on its flagship Jebel Ali hub and bypass the Strait of Hormuz, the Financial Times reports.
Iran has blocked the Strait of Hormuz throughout the regional war that began in late February, and the vital waterway is at the center of an ongoing escalation of conflict between the US and Iran. The Times of Israel reported.
DP World is in talks to develop a brand new multipurpose port in the coastal area of Fujairah and a new terminal at the existing harbor in the emirate, the newspaper adds, citing people familiar with the matter.
