UAE’s port developer DP World has launched activities aimed at developing Berbera port in the Republic of Somaliland.
Namely, the company marked the official commencement of the 30-year port concession for the management and development of a multipurpose port project at Berbera.
DP World won the concession in September 2016, with an automatic 10-year extension. To that end, DP World has set up a joint venture with 65% control together with the government of Somaliland to manage and invest in the port.
The project will focus on containers with the capability to handle other types of cargo as well.
In line with the terms of USD 442 million worth investment, the port’s development 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.
Construction of the quay extension is expected to take 24 months to complete, DP World said earlier.
“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 deep-water port and free zone will act as a catalyst for the growth of the country and the region’s economy,” DP World Group Chairman & CEO Sultan Ahmed bin Sulayem, said.
“Our next steps will be to construct a new quay and yard, implement a terminal layout and add new yard equipment. We’re also working on a long term strategic plan for sustainability projects,” DP World Berbera CEO Ibrahim Al Hammadi, added.
As disclosed, 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.