DP World wins 30 yr concession for port challenge in SomalilandGulfRetail

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DP World wins 30 yr concession for port undertaking in Somaliland

September 5, 2016 5:27 pm

Dubai’s DP World has gained a 30 yr concession to handle and develop a port within the breakaway Somalia area of Somaliland that may require an funding of $442 million, the ports operator stated in a shares trade assertion on Monday.

 

Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World with Dr Saad Ali Shire, Minister of Overseas Affairs and Worldwide Cooperation, Republic of Somaliland on the signing ceremony at DP World’s flagship Jebel Ali Port in Dubai.

 

The Pink Sea Port of Berbera undertaking will concentrate on containers, with the potential to deal with different varieties of cargo, the assertion stated.

 

DP World could have a sixty five % share within the three way partnership challenge with the federal government of Somaliland, it stated.

Supply: Press Launch

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