DP World hits 8-month high, wins terminal project in Mumbai
- United Arab Emirates: Thursday, November 01 - 2012 at 14:18
Shares of global maritime port operator DP World knocked out a key resistance at $12.00 Thursday by closing 2.11% higher at $12.11, representing the highest price level since end of February this year. Earlier in the day, DP World, which is listed at the NASDAQ Dubai, said that it has received a letter of award from Jawaharlal Nehru Port Trust, Government of India, to set up and operate a single berth facility of 330 meters quay length alongside its existing terminal operation at Nhava Sheva, Mumbai. "The new facility is expected to be operational in 2015," the world's third largest port operator said in an e-mailed statement.The firm added that "DP World will be investing approximately $200m to build a container terminal of 330 metres quay length and 17 hectares of yard which will have an annual handling capacity of 800,000 TEUs (twenty foot equivalent container units) and draft of 13.5 metres."
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