The UAE”s DP World has dropped a bid to manage Gwadar port due to commercial reasons, a local newspaper said on Friday. “We have looked carefully at this opportunity and have decided not to pursue it,” Gulf News quoted a Dubai Ports World official as saying.

The deep-sea port, built with Chinese assistance, is on the Arabian Sea, about 120km from the Iranian border.

The UAE company, the world”s third-largest container port operator, was one of the bidders for the project alongside PSA International of Singapore, Globe Marine Services of Saudi Arabia and Pakistan International Container Terminal.

Source: The Dawn