Dubai – Mubasher: DP World is planning to transform the Berbera Port in Somaliland to a major port that can smoothly integrate with the group’s operations in the Horn of Africa, said chairman Sultan bin Sulayem.
The Dubai port operator is planning to invest AED 1.6 billion ($442 million) in developing the port, the top official revealed, noting that the development scheme will be carried out on several stages, Al Ittihad newspaper reported.
By the end of the project’s development, the port will be able to handle up to 1.2 million traditional containers, bin Sulayem said, noting that the development will include a 400-metre pier as part of the first stage.
Last week, DP World signed a development deal with the Somaliland Port Authority (SPA) to develop the Port of Berbera. Under the deal, the Dubai-based port operator will hold a 51% stake in the project, while Somaliland and Ethiopia will hold 30% and 19%, respectively.
“Our vision for Berbera is to make it a regional maritime hub in the Horn of Africa and its development will encourage growth for the region’s economy,” DP World group chairman and CEO Sultan Ahmed Bin Sulayem said on Monday, following the signing of the final agreement between SPA and DP World.
