DP World: $442 M Investment in Berbera Over Three Phases

Business & Finance

DP World has won a 30-year concession with an automatic 10-year extension for the management and development of a multi-purpose port project at Berbera, Republic of Somaliland.

The Port of Berbera opens a new point of access to the Red Sea and will complement DP World’s existing port at Djibouti in the Horn of Africa.

DP World will set up a joint venture with 65% control together with the government of Somaliland to manage and invest in the Port of Berbera.

The investment of up to $442 million will include a first phase of a 400 meter quay and 250,000 square meter yard extension, and gantry cranes and reach stackers to handle containers and cargo.

Construction of the quay extension is expected to start 12 months after the satisfaction of the terms and conditions of the agreement and will take 24 months to complete.

“Berbera will contribute to our continued growth in the developing markets of Africa in the years ahead. It is also a breakthrough in developing access to the sea for landlocked Ethiopia, the region’s largest economy,” said Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World.

Port of Berbera will complement DP World’s network in East Africa by creating a new deep-water gateway for Somaliland’s and East Africa’s global trade.

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