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In November 2005, DP World signed an agreement with the Qingdao Government to develop a new container terminal at a green field site in Qingdao and Monday's talks included an update on progress of the project. Qingdao is located in the Shandong Province and is home to the country's third largest container port, which handles in excess of 6 million TEU (twenty-foot equivalent container units) annually. The new terminal, owned by DP World, is expected to have capacity of 2 million plus TEU and to commence operations by 2008/09.
Following a tour of the Jebel Ali Port and Freezone, Mr Du and his delegation moved on to view the Jumeirah Palm project and to take a boat tour of the development. Monday's programme was topped off with a helicopter flight to view Dubai from the air. On Tuesday the delegation toured a number of other Dubai developments, meeting with senior representatives from the Government of Dubai.
Visiting with Mr Du were Mr Liu Mingjun, Director General of Qingdao Development & Reform Commission, Mr Wu Tiejun, Director General of Qingdao Bureau for Foreign Trade and Economic Cooperation and Ms Zhao Xuefang, Director General of Qingdao Foreign Affairs Office.
Sultan Ahmed Bin Sulayem, Chairman of Dubai World and Chairman of DP World, commented:
"We are honoured to host Secretary Du and pleased to have had the opportunity to discuss with him and his delegation current progress at our development project at Qingdao and to underline our continued commitment to investment in China. China is not only a key market for DP World but also a highly valued trading partner for Dubai and the UAE and visits like this help to strengthen our ties."
Posted by Anne-Birte Stensgaard, Senior News Editor
