Reuters reported that Dubai based port operator DP World has signed an agreement with Australia’s Flinders Ports to take a 60% stake in the country’s Adelaide container terminal.

DP World said that Flinders Ports will hold the remaining 40% of the JV.

DP World will have a 30 year concession for its operations in Adelaide.

Mr Anil Wats COO of DP World said that “We have already invested heavily in the terminal and this allows us to invest further in DP World Adelaide.”

(Sourced from Reuters)