Economy, Domestic Economy
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Dubai Port Giant to Launch Iran Operations

Dubai Port Giant to Launch Iran Operations Dubai Port Giant to Launch Iran Operations

DP World, one of the world’s largest port operators, says it is in talks with relevant authorities to start port operations in Iran, which recently reached a deal with world powers to limit its nuclear program in return for the lifting of sanctions against Tehran.

“Iran has a good land bridge of rail that will connect the Silk Route from China to Europe,” UAE-based Ameinfo.com quoted Sultan Ahmed Sulayem, DP World’s chairman, as saying.

Earlier, a DP World spokesperson said the company hopes that the lifting of economic sanctions will re-open the door to trade growth between the UAE and Iran, which have historically been trade partners.

“Any actions that lead to an increase in trade flow are likely to benefit our flagship Jebel Ali port, given its position as the regional hub for trade.”

The company, which has a portfolio of more than 65 marine terminals across the world, reported a 21.9% increase in its profits in the first half of this year.

Financialtribune.com