UAE state-owned firm bids to run Lyttelton Port

DP World, owned by the United Arab Emirates government, has proposed leasing and operating Lyttelton Port — the South Island's largest port, handling over $7.5 billion in annual exports. Port owner CCHL, Christchurch City Council's investment arm, will assess the bid at a late July board meeting. CCHL chairman Bryan Pearson said no decision would be made without council consultation.