Financial Times FT.com

Legislators scornful of Dubai port concession

By Stephanie Kirchgaessner in Washington

Published: February 25 2006 02:00 | Last updated: February 25 2006 02:00

A group of Republican and Democratic lawmakers vowed on Friday to press ahead with plans to propose legislation to block Dubai Ports World's acquisition of US port terminals in spite of an offer by the Dubai-controlled company to delay taking operational control of the assets until Congress had more time to review the deal.

Legislators said DP World's decision to proceed with its acquisition next week of P&O, the UK port operator that owns five terminals along the east coast, but not take control or manage the terminals pending the outcome of discussions on Capitol Hill was little more than a public relations manoeuvre. The deal has already secured approval from the Bush administration.

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