Dubai’s DP World set to complete $366 million Somali Port expansion by year-end
Saturday, August 19, 2023
In 2017, a branch of DP World was granted a 30-year contract to transform and oversee a versatile port in Bosaso, the commercial hub of Puntland.
Image Credit: Twitter/Dubai Media Office
The expansion of the Bosaso port in Somalia by DP World is projected to be completed by the end of this year, according to a regional ports minister.
This endeavor, which will require an investment of $366 million, is being financially supported by a branch of DP World based in Dubai. Situated on the Gulf of Aden, within the semi-autonomous Puntland region, this port is one of many facilities being developed by the company in the Horn of Africa.
“Due to its strategic location, it serves as a vital trading route that attracts both regional and international traders,” stated Ahmed Yasin Salah, the Minister of Ports for Puntland.
A second phase of expansion is planned to commence next year.
In 2017, a branch of DP World succeeded in securing a 30-year contract for the development and management of a versatile port in Bosaso, Puntland’s major commercial center. The company has also formed a similar agreement for the Berbera port in the neighboring Somali territory of Northern Somalia.