Dubai Ports World said on Saturday it signed a 40-year lease deal with the Port of Brisbane and is looking to invest AUS$250 million (Dh879m) in the port in response to market demand.
Under the deal, DP World will lease a container-only terminal for an initial 20-year term, with a 20-year option, Port of Brisbane Corporate Chief Executive Jeff Coleman said in a statement.
DP World currently leases three container terminals at the port, it said.
"DP World is looking at investing around AUS$250m at Fisherman Islands over time to expand and to re-engineer the terminal in response to market demand," DP World Chief Executive Mohammad Sharaf said in the statement.