Then this year DP World made a major investment in Las Vegas by buying 9.5% of MGM Mirage and a 50% ownership in their CityCenter project.
And now the Jebel Ali Free Zone Authority (Jafza) that runs the gianormous port where the big aircraft carriers park up the street from us, well, now they're buying South Carolina.
- Associated Press
Dubai-Based Company Purchases SC Land
October 03, 2007
ORANGEBURG, S.C. - A Dubai-based company looking to build a logistics center and business park in economically depressed Orangeburg County said it has completed the purchase of about 1,300 acres of land near Santee.
"We think Orangeburg has the potential to become a major logistical hub in the United States," said Chuck Heath, managing director of Jafza International in a statement released Tuesday.
Jafza officials will begin negotiating the details of its investment with state and local officials in the next few weeks, according to the statement.
Gregg Robinson, executive director of the Orangeburg County Development Commission, said local officials are working with the company to develop the next stage of the site.
The company said it plans to invest about $600 million and ultimately hire about 8,000 workers.
Jafza International is a sister company of DP World, which initially won federal approval last year to run six major U.S. ports before congressional objections to a Middle Eastern company handling the sensitive job caused the deal to fall through.
Copyright 2007 Associated Press.
Yeah, I don't think the rednecks are going to like this much ...
