Dubai’s government said on Thursday August 2nd that the London Court of International Arbitration (LCIA) ruled DP World’s port container terminal contract in Djibouti – a 30-year-concession to operate the port – to be valid and binding. It did not say when the ruling was made.
The government of Djibouti seized the Doraleh Container Terminal from DP World in February over a financial dispute whose beginnings date back to 2012. Dubai government-controlled DP World called the seizure illegal.
Djibouti refused to acknowledge the arbitration, leading DP World to say on Saturday that the Djibouti government did not recognize the international rule of law.
DP World built the Doraleh Container Port under concession from the Djibouti government in 2006. Under that deal, Djibouti retained 67% ownership of the terminal, with DP World owning the rest.