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Emirati company  wins  30 year concession on Berbera port

Emirati company wins 30 year concession on Berbera port

Emirati company DP World has won a thirty year concession  for the management and development of  Berbera Port in Somaliland. DP World is to invest up to $440 M in the period  in a joint venture  with Somaliland  government where by  it will have a 65% control. “ We are delighted to extend our African footprint with a major investment in Somaliland. Investment in this natural deep water port will attract more shipping lines to East Africa  and its mordernisation will be a catalyst for the growth of the country and the regions economy” Sultan Ahmaed Bin Sulayem CEO DP World said. “ We are excited to partner with DP World on this landmark project. DP World Port of Berbera  will offer East African importers  and exporters  a unique and additional world class deep water port that will dramatically improve the competitiveness  of their products in world markets and has the potential to transform the regions economy” Saed Ali Shire Foreign Affairs Minister Somaliland said. The investment will include a  first phase of a 400 meter quay and a 250000 square meter yard extension and gantry cranes and reach stackers to handle containers and cargo. Construction of the new Berbera Port is expected to begin after one year and will take a period of 2 years to comple.