There has been a dispute between DP World and Djibouti since 2012 regarding a concession granted to the company to operate the Doraleh container terminal on the Horn of Africa on important trade routes at the southern entrance to the Red Sea.
The government of Djibouti expropriated the terminal from the Dubai government-controlled DP World in 2018.
The London Court of International Arbitration previously ruled that the concession granted to DP World is legal and binding, and has ordered Djibouti to return the rights to the company.
DP World is now seeking compensation for the estimated loss of revenue and management fees from 2018 to March 31 of this year through the same court, as it seeks to restore its concession right.
A document showed that the company estimates that losses will exceed $ 1 billion, including future profits if the franchise rights are not returned to it.
The London court is expected to rule on the company’s compensation claims on June 29.
DP World said it was still the legitimate holder of the concession, saying Djibouti had acted illegally by taking the terminal from the Dubai government-owned company.