DP World and China fight over Djibouti port
I just hope we do not see a lot of these trajectories in Africa where foreign companies/nations sue over ownership or control of assets in Africa. DP World and China are fighting in court over Djibouti port. That is not a good thing!
UNITED Arab Emirates’ (UAE) DP World Limited and its subsidiaries has taken legal action against China for building an international free zone on a terminal being disputed with Djibouti.
The lawsuit was filed in the High Court of Hong Kong for unlawfully procuring and inducing the Republic of Djibouti to breach various agreements between the African country and DP World.
In the lawsuit, DP World sought damages, interest, and a declaration that China Merchants unlawfully procured and/or induced Djibouti’s breaches of its agreements with DP World.