DP World plans UAE east coast port to bypass Strait of Hormuz, FT reports

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 harbor in the emirate, the newspaper added, citing people familiar with the matter.
Reuters could not immediately verify the ​report.