The United Arab Emirates said on Thursday that the London Court of International Arbitration had ordered Djibouti to pay Doraleh Container Terminal (DCT), partially owned by DP World, $385 million plus interest for a breach of exclusivity.
UAE state news agency WAM said that the court had found that Djibouti had breached DCT’s exclusivity rights by developing new container port opportunities with China Merchants, a Hong Kong-based port operator.
The government of Djibouti seized the Doraleh Container Terminal from DP World in February over a dispute dating back to at least 2012.
Source: Reuters
