Dubai’s DP World signs $442 million deal with Somaliland

Dubai’s port operator DP World, has entered into a $442 million deal with Somaliland to jointly develop the Port of Berbera. France’s Bolloré Group also showed interest in the project. The Port of Berbera is 937 km east of Addis Ababa, in the self-proclaimed Republic of Somaliland.

The port will be managed by DP World and “will provide an additional gateway” for Ethiopia’s growing economy. Ethiopia lost its port in 1992, when Eritrea became independent. It now relies on the heavily on the Doraleh Port in Djibouti.

DP World increasingly sees Africa as a potential market, with African port operators as spectators. In April, DP World also commenced the first phase of the US$35 million inland container logistics centre in Kigali Rwanda.