Major port expansion in Yemen underlines continuing growth in the region

DP World is one of the largest marine terminal operators in the world, with 45 terminals and 13 new developments across 29 countries.

The transaction includes the lease of both Aden Container Terminal and of nearby Ma'alla Container Terminal and a commitment by the joint venture to invest around $220m in further developing the port, including building a new 400 metre berth extension to Aden Container Terminal within five years from handover.

DP World Chairman Sultan Ahmad Bin Sulayem earlier said:

"The port is strategically located to capture significant growing regional transshipment volumes. We believe Yemen will benefit significantly from efficient port and logistics infrastructure."

Allen & Overy Partner Christian Saunders added: "Infrastructure investments in countries in the region with developing legal jurisdictions are becoming more commonplace and key strategic infrastructure deals, such as this one, are tangible evidence of the market shift. The impressive commercial and in-house legal team fielded by DP World was key to closing the deal within the incredibly aggressive timeline targeted by the principals."

Allen & Overy advised DP world on the transaction. The Allen & Overy team was led Dubai-based partner Christian Saunders, assisted by Senior Associate Sachin Karia and Associate Nadia Kalic.