The Middle East's largest seaport is getting even bigger.
Dubai port operator DP World said Monday it plans to spend $850 million over three years to significantly expand the emirate's sprawling Jebel Ali port to handle the equivalent of 19 million standard 20-foot shipping containers per year.
The company in September embarked on a smaller expansion to boost capacity from 14 million to 15 million containers annually by next year.
The expansion announced Monday will turn existing port space into a new terminal designed to handle the container ships that make up the bulk of traffic at Jebel Ali.
DP World plans to fund the latest expansion using existing cash and future revenue.