Dubai Company Gains Control of Yemen’s Aden Port
The Emiriati DP World Group based in Dubai announced it has officially taken control over the container operations at Yemen’s port of Aden in a joint agreement with the Yemen Gulf of Aden Port Corporation.
The agreement includes leasing the Aden Container Terminal and the nearby Ma’alla Container Terminal. It completes an attempt to invest $220 million in further developing the port. DP World currently operates 46 terminals in addition to 13 new developments in the pipelines across 26 countries. It is attempting to grow Aden’s capacity from 700,000 to 1.5 million by 2012.
DP World is controlled by Dubai’s government. It became on of the world’s top container importers after its 6.9 million acquisition of Britain’s Peninsular and Oriental Steam Navigation Company in 2006. In terms of DP World’s role in the United States, despite the support of President Bush and as a result of fierce congressional opposition, DP World has yet to acquire the US part of the British acquisition .
This latest development demonstrates Yemen’s participation in international business in a way that will ideally boost its economy and make the state a greater player on the international scene. Moreover, the story is a further piece of evidence documenting Dubai’s increasing role as a leader specifically in the Middle East and how it is attempting to maintain control in key areas of international affairs. It will be interesting to document and trace how Dubai proceeds in acquiring power not only in the Middle East, but on a global scale.
Jenna Hootstein
