UAE - Mubasher: DP World and CDPQ, a global investment group, have announced a $5 billion investment in three of the maritime business hub’s assets in the UAE.

CDPQ will invest $2.5 billion in the Jebel Ali Port, the Jebel Ali Free Zone, and the National Industries Park through a new joint venture in which the investment company will own a 22% stake, according to a press release on Monday.

Meanwhile, other long-term investors will acquire an additional stake of up to $3 billion. 

The three assets will continue to be fully consolidated businesses in the DP World Group, and operations, customers, service providers, and employees will not be affected by the investment.

The Group Chairman and CEO of DP World, Sultan Ahmed bin Sulayem, said: "The transaction also achieves our objective of reducing DP World’s net leverage to below 4x Net Debt to EBITDA, and this has been achieved despite the challenges of the pandemic and recent global economic conditions."

The Executive Vice-President and Head of Infrastructure at CDPQ, Emmanuel Jaclot, commented: "This investment in Jebel Ali is another great illustration of the partnership between CDPQ and DP World, which now spans four continents and eighteen terminals."