Abu Dhabi
DP World has celebrated its 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 compliments the company’s investment in Djibouti and will also serve land locked countries in the Horn of Africa, DP World said in a statement on Thursday. President of the Republic of Somaliland, Ahmad Mohammad Mohamoud and DP World Group Chairman and CEO Sultan Ahmad Bin Sulayem were present at a ceremony to mark the occasion.
The investment of up to $442 million 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.
DP World Group Chairman & CEO Sultan Ahmad Bin Sulayem, said: “This is part of our vision to act as an enabler of trade and to facilitate growth by helping African countries develop their infrastructure that connects them to global markets.”
“These are exciting times for our industry and for Africa, and we’re grateful for the opportunity to be an integral part of Somaliland’s development. Investment in this natural deepwater port and free zone will act as a catalyst for the growth of the country and the region’s economy.
Since beginning operations in early March, DP World has retained all 713 permanent employees and begun training and staff development to prepare them for roles in a modern port, the statement said.
