DP World readies for expansion

* username: rupertbu

DP World is drawing closer to reviving its global investment plans after increasing its cash pile to almost US$3 billion (Dh11.01bn).

After pushing down costs judiciously during the downturn, including trimming its global workforce by 5 per cent, the world’s fourth-largest ports operator is in a prime position to invest in new terminals where it sees the greatest untapped demand.

“We have the ability to time it once we see the markets come back,” says Yuvraj Narayan, the chief financial officer of DP World. “Our plan was to complete most of these by 2013. I think what you will see is two years market respite.”