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Yemen Anti-Corruption Asks DP World Contract to Be Canceled

June 20 (Bloomberg) -- Yemen’s anti-corruption body called for the cancellation of a contract with Dubai-based DP World Ltd., the world’s third-biggest port operator, citing irregularities in the implementation of contractual obligations.

The Supreme National Authority for Combating Corruption would ask the country’s cabinet to cancel the agreement with DP World, which operates the Aden and Ma’alla ports in Yemen, state news agency SABA reported yesterday.

The committee said DP World failed to carry out an investment plan to develop the Aden port on time, and emphasized the need to seek compensation for the “grave damages” suffered by the port, the news agency reported.

“DP World rejects such unfounded and misleading accusations,” the company said in an e-mailed statement today. “We have met all contractual commitments with respect to the Aden port operations.”

To contact the reporters on this story: Mohammed Hatem in Dubai at mhatem1@bloomberg.net; Tamara Walid in Dubai at twalid@bloomberg.net

To contact the editor responsible for this story: Chad Thomas at cthomas16@bloomberg.net

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