Dubai’s DP World set to complete $366 million Somali Port expansion by year-end

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

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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.

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