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DP World Secures $442 Million Somaliland Port Concession

DP World has celebrated its US$442 million 30-year port concession for the management and development of a multi-purpose port project at Berbera, Republic of Somaliland, which started on March 2, 2017.

DP World Berbera complements the company’s investment in Djibouti and will also serve land locked countries in the Horn of Africa.

The investment will consist of two phases, the first being the building of a 400 metre quay and 250,000 square metre yard extension as well as the development of a free zone to create a new regional trading hub.

H.E. President of the Republic of Somaliland, Ahmed Mohamed Mohamoud and DP World Group Chairman and CEO Sultan Ahmed bin Sulayem were present at a ceremony to mark the occasion and thanked attending government officials and partners for their support at the start a new phase of development for the country.

President of Somaliland Ahmed Mohamed Mohamoud Silanyo, said: “This DP World investment in the Port of Berbera will strengthen the relationship between the Republic of Somaliland and the UAE which existed for many centuries in the past.

“Additionally, it will bring back and highlight the commercial position and importance of the Port of Berbera as a Red Sea gateway for the Middle East and Africa.”

DP World was recently became involved in a major incident when a CMA CGM containership hit a quay crane at its terminal in Jebel Ali Port, Dubai.

Short URL: http://somalilandembassy.com/?p=820

Posted by on May 12 2017. Filed under Current Affairs, News In English. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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