Djibouti Ends Dubai's DP World Contract to Run Container Terminal
Last February, the London Court of International Arbitration cleared DP World of all charges of misconduct over a concession to operate the terminal, Dubai's government said at the time.
In 2014, the government of Djibouti lodged claims accusing DP World, majority-owned by the Dubai government, of illegal payments to secure a 50-year concession for the Doraleh Container Terminal, the Dubai government said.
The president's office said the contract was ended after the failure to resolve a long-running dispute between the two parties that started in 2012.
It gave no other details on the nature of the dispute, but said it took the decision to protect its "national sovereignty and economic independence."
"It should be noted that the Doraleh Container Terminal (DCT) will now be under the authority of the Doraleh Container Terminal Management Company which is fully owned by the government," the statement said.
A DP World spokesperson was not immediately available to comment.