DP World seeks more than $210m from Djibouti
Dubai's DP World - one of the world's largest port operators - is seeking $210.2 million in damages from the government of Djibouti in an ongoing legal battle over port concession rights.
That figure comes from documents related to the dispute, seen by Reuters.
DP World has been locked in a dispute with Djibouti since 2012.
It centers on DP World's concession to operate the Doraleh Container Terminal - located along key trade routes at the southern entrance to the Red Sea.
Djibouti seized the terminal from state-owned DP World in 2018 citing a failure to resolve the six-year contractual dispute.
DP World Chairman Sultan Ahmed bin Sulayem has previously called that "really illegal".
In 2018 the London Court of International Arbitration ruled that the concession was legal and binding, and ordered it to be restored.
DP World is now seeking damages for the estimated loss of revenue and management fees from 2018 to March 31 this year through the same court, documents showed.
It's also seeking to restore the concession.
DP World said it remained the legal holder of the concession.
Alexis Mohammed, chief advisor to Djibouti's President Ismail Omar Guelleh, said DP World was free to begin proceedings but that Djibouti had made its position clear and that "in our view, the matter is settled".
