The reason for DP World expansion is because it aims to strengthen its position as a trade enabler. DP World CEO and Managing Director Mohammed Al Muallem, told the local media that, “DP World continues to see further potential for growth in Africa and is still studying the US market for possible acquisitions.” 

Currently, the port operator runs facilities in 40 countries. In July, it acquired Topaz Energy and Marine in a deal worth $1.08 billion. Topaz Energy and Marine is a Dubai-based oil services and marine logistics company.

Since 2018, DP World has performed well in securing acquisitions in the logistics and supply chain sector. The port operator is constructing port and warehouse facilities in India. India is the UAE’s biggest trading partner. 

DP World expansion plans to open ports in Africa as part of a Indian Ocean trade expansion strategy. More recently, DP World inaugurated its Kigali Logistics Platform that will serve as a passage to Africa—by connecting Rwanda to neighbouring countries, such as Democratic Republic of Congo, Burundi, Uganda, Tanzania and Kenya. DP World’s expansion strategy is aimed at geographical spread. It is also investing $3.4 billion to enhance the UAE’s link with China for the latter’s Belt and Road Initiative. 

Muallem said that the port operator is quite satisfied with the current efforts and achievements in the sector. 

The post DP World to boost acquisitions as part of greater expansion strategy appeared first on International Finance.