DP World Plans UAE East Coast Port to Bypass Strait of Hormuz

DP World is planning to build a new port and a container terminal on the United Arab Emirates' east coast in a move that would reduce Dubai's dependence on its flagship Jebel Ali hub and bypass the Strait of Hormuz, the Financial Times reported on Monday.

The Dubai-based port operator is in talks to develop a brand new multipurpose port in the coastal area of Fujairah and a new terminal at the existing harbour in the emirate, the newspaper added, citing people familiar with the matter.

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Reuters could not immediately verify the report.