Wednesday, February 22, 2006

Facts about Dubai Ports World

Dubai Ports World is at the center of the Washington controversy over whether the firm, owned by Dubai, should take over managing six major ports in the United States.

Here are facts about Dubai Ports World:

Dubai Ports is owned by government of Dubai,The ruling Family of Dubai Al-Maktoum Family, Head of the family, current Vice president of UAE, Prime Minister and Minister of defense of UAE, Sheikh Mohammed Bin Rachid Al Maktoum is very generous to many Washington insiders,and he is very shrewd businessman.

Share holders at Britain's P&O, who had been managing the ports, voted last week in favor of Dubai Port’s multi billion dollar bid, giving the firm control over the management of P&O’s global operations, including in the US ports of New York and New Jersey, Baltimore, Philadelphia,New Orleans and Miami.

The deal made Dubai Ports World the world’s third-largest ports group.

Dubai Ports World purchased the global port assets of US freight rail company CSX Corp. In 2005 for $1.15 billion. US Treasury Secretary John Snow is a former chairman of CSX, but left the company a year before the Dubai deal.

One of DP World's top executives, David Sanborn, was nominated by President George W. Bush in January to become the administrator of the Maritime Administration in the US Department of Transportation. At least one senator plans to hold up Sanborn’s confirmation until more questions about the port deal are answered.

Dubai Ports has international operations in the Dominican Republic,Venezuela, Germany, Romania, Morocco, Saudi Arabia, Djibouti, India,China, Malaysia, South Korea and Australia in addition to the UAE.


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