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Dubai’s Ports, Customs and Free Zone Corporation (PCFC) has announced the launch of a new company using the well-known P&O Ports brand. The venture, wholly owned by the Government of Dubai as a subsidiary of PCFC, will focus on developing and operating medium-sized, multi-purpose ports worldwide.
Announcing the initiative, H.E. Sultan Ahmed Bin Sulayem, Chairman of PCFC, said: “We have the drive and ambition to take this prestigious brand to new heights, identifying the next wave of opportunities for the development and operation of mixed cargo ports worldwide, particularly in emerging economies.” He revealed that already P&O Ports has entered into preliminary discussions with the governments of Madagascar and Albania, as well as the Port of Berbera in the Republic of Somaliland to enhance their port infrastructure.
P&O Ports will specialise in delivering unloading and handling services for multi-purpose ports around the world. These brownfield ports, predominantly handling general cargo and bulk commodities, are a source of great opportunity but tend to be uneconomic for larger operators. P&O Ports, as a newly created, specialised company, will have the flexibility to compete more efficiently within this sector, it is suggested. A feasibility study is said to have demonstrated that the industry’s future growth is not confined to large ports, with increasing demand for smaller port services being seen in emerging economies.
Two top executives have been chosen to run P&O Ports. Arif Obaid Al Dehail, Chief Executive of Trakhees, a division of PCFC, will become Chairman of P&O Ports, and Hassan Hadi, formerly senior vice president Research and Development at DP World, will be the chief executive of the company. Both have extensive experience in port development and management in Dubai and overseas.
