Djibouti Rescinds DP World Port Concession Citing Corruption
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Djibouti’s government said it rescinded DP World’s concession at the Doraleh Container Terminal after finding evidence of corruption and has begun arbitration proceedings.
The agreement was canceled after an investigation that showed an accord signed with the company “unfairly favored” Dubai-based DP World, according to a statement e-mailed by Consulum, a London-based communications consultancy, on behalf of the government. Talks aimed at resolving the matter have broken down and the state will seek damages for losses it has incurred, it said.