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LCIA rules DP World contract ‘valid and binding’

According to a statement from the government of Dubai, the London Court of International Arbitration (LCIA) has ruled that DP World’s port container terminal contract in Djibouti is “valid and binding”.

HLPFI reported in February 2018 that the government of Djibouti had seized control of the Doraleh Container Terminal DP World.

DP World, which has operated the terminal since 2006, says it has acted in accordance with a concession awarded by the government. At the time, DP World described the seizure as "illegal" adding that it is "an oppressive and cynical" move in the government's campaign to force DP World to renegotiate the terms of the concession.

The LCIA tribunal has ruled that Doraleh Container Terminal’s concession agreement remains valid; DP World said it would now reflect on the ruling and review its options.

www.dpfza.gov.dj

www.dpworld.com  

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