UAE wins $385 million London case against Djibouti

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

 

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