DP World extends commitment to Port Botany with 15-year lease

Dubai, July 9, 2009 (WAM) - Global marine terminal operator DP World has signed a new 15-year operating lease extension at Port Botany in Sydney, Australia. Terminal operations contribute substantially to job creation and economic growth in the state of New South Wales (NSW).
The lease agreement is the third significant DP World contract in Australia this year, following the recent 40-year lease renewal at DP World Brisbane and a new 30-year operating lease at Adelaide. The new lease reflects the NSW Government's commitment to improving overall port efficiency, and includes specific incentives to improve truck servicing and rail performance. Collectively, these measures are expected to significantly ease terminal and road congestion, while reducing energy consumption.
Sydney Ports Corporation CEO Grant Gilfillan and Senior Vice President and Managing Director for DP World's Australia region, Jack Williams, signed the contract at Port Botany on behalf of their respective organisations, in the presence of Premier Nathan Rees and the Minister for Minister for Ports and Waterways, Joe Tripodi. Premier Rees called the signing a 'major vote of confidence' in the New South Wales economy.