DP World diversified its global business portfolio through investments and acquisitions worth $3 billion in 2018, the company said.
The headline projects were the launch of DP World Cargospeed with Virgin Hyperloop One and taking over leadership of the technology company; digital transformation of business operations across the global portfolio; the high bay storage system for containers at Jebel Ali; the launch of a $3 billion investment platform in India; acquisition of complementary businesses in Europe, India and Peru; and container port development projects in Africa.
DP World also successfully closed the 100 per cent acquisition of Drydocks World (Drydocks).
Sultan Ahmed bin Sulayem, DP World Group chairman and CEO, said: “2018 was a successful year and a period of strategic growth for DP World in diverse fields. We made major strides in our evolution into a company that focuses on smarter trade to make lives better through data-driven logistics. Innovation, with an eye on future trade solutions and acquisitions designed to expand our global business footprint, was key.
“Our sustained interest in tomorrow’s trade-enabling technologies saw us taking a leadership role in Virgin Hyperloop One, our partners in developing DP World Cargospeed, the high-speed transport system that will revolutionise the way we do trade. Simultaneously, we ended the year by embracing an existing technology to deliver a quantum leap in container stacking and storage in our flagship Jebel Ali Port. On its successful completion, we plan to adopt it across our other terminals.”