January 14, 2020 / 2:55 PM / a month ago

London court orders Djibouti to restore DP World's rights over Doraleh port - WAM

DUBAI (Reuters) - A London arbitration court has ordered Djibouti to restore DP World’s (DPW.DI) right to operate the Doraleh Container Terminal as detailed under a 2006 concession deal within two months or pay damages, the state news agency WAM reported on Tuesday.

The government of Djibouti seized the terminal from Dubai government-controlled DP World in February 2018 over a dispute dating back to at least 2012.

An independent expert has estimated the losses to DP World at more than $1 billion, WAM reported.

Reporting by Asma Alsharif; Editing by Jan Harvey

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