DP World Gives To Somaliland 10 million To Interticket to Berbera Port
Concession to manage and develop a port at Berbera in Somaliland, adding to a global portfolio of more than 95 Terminals Somaliland concession lasts for 30 years, with a 10-year automatic extension, DP World said in a statement.
The company will own 65% of a joint venture with the government of Somaliland to manage and invest in the port, it said.
The investment of up to $442 million is planned to expand the port infrastructure. It will be phased depending on port volumes, DP World said For DP World, the deal gives it a new hub and outlet to the Red Sea near its existing port in Djibouti in the Horn of Africa.
DP World is among the world’s largest ports operators, managing marine and inland terminals across 32 continents.
It has recently added new capacity in markets such as Turkey’s Yarimca, Stuttgart in Germany, Prince Rupert in Canada and at its flagship port at home in Jebel Ali.
Today DP World 10 Million To Inter Ticket Berbera Port God bless Somaliland.
By Yassin Dhamac
Somaliweyn Media Center (SMC)
Short URL: http://somaliwayn.org/?p=50793