Dubai-based port operator DP World has entered into an agreement with the government of Senegal to develop a deep water port at Ndayane with a total investment of $1.1bn.
The port will be developed by DP World Dakar, a joint venture between DP World and the Dakar port authority. The plan is to invest $837m in the first phase, and another $290m in the second phase. Additionally, a special economic zone next to the port is also under planning.
Once completed, the port will be able to handle the largest containerships in the world.
The port project is part of the World Logistics Passport, a major initiative by Dubai to link nations around the world and increase South-South trade.
“By joining the World Logistic Passport, Senegal will strengthen and boost its position as a trade hub for Africa. We hope that this new membership of the World Logistics Passport will enable our country to access lesser tapped markets in the world and grow its economy as a re-export hub,” said Amadou Hott, minister of economy, planning and cooperation of the government of Senegal.
“DP World believes in the potential of Senegal for further economic growth. We have invested substantially helping to build Senegal’s infrastructure, and we are commited to help Dakar develop into a major logistics hub and gateway for Africa and the world,” said Sultan Ahmed Bin Sulayem, chairman of Dubai’s Ports, Customs and Free Zone Corporation.
Courtesy: Jason Jiang