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DP World eyes $239 mln investment in Australia port

Sat Jul 26, 2008 8:40am EDT

DUBAI, July 26 (Reuters) - Dubai Ports World DPW.DI said on Saturday it signed a 40-year lease deal with the Port of Brisbane and is looking to invest 250 million Australian dollars ($239.5 million) in the port in response to market demand.

Under the deal, DP World will lease a container-only terminal for an initial 20-year term, with a 20-year option, Port of Brisbane Corp Chief Executive Jeff Coleman said in a statement.

DP World currently leases three container terminals at the port, it said.

"DP World is looking at investing around 250 million Australian dollars at Fisherman Islands over time to expand and to re-engineer the terminal in response to market demand," DP World Chief Executive Mohammad Sharaf said in the statement. (Reporting by Ola Galal; Editing by Summer Said)



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