Signed an agreement in Dubai between the Emiratina Dubai Ports and the port authority of Somaliland, the Ethiopian government bought the 19% of the shares of the port of Berbera.
According to the newspaper "AddisStandard", according to the agreement DP World will maintain a participation of 51% in the project, while the remaining shares will be purchased for 30% from Somaliland and the remaining (19%) from Ethiopia.
Also according to the provisions of the agreement, the Addis Ababa government will also invest in infrastructure projects to develop the Berbera Corridor as a commercial port of the region. Dp World recently confirmed its intention to continue its ambitious plans in Africa. The company is working on the conversion of the port of Berbera and continues its work in the port of Bosaso, in Puntland.
In recent days, the Somali media have announced the temporary stop to work on the construction of the military base in the city of Barbera, Somaliland.
DEEPENING
DP World is one of the main promoters of global trade and an integral part of the supply chain. It manages multiple but related activities: from maritime and land terminals, maritime services, logistics and ancillary services to technology-based business solutions.
It boasts a portfolio of 78 marine and terrestrial operating terminals supported by over 50 companies connected in over 40 countries on six continents with a significant presence in both high-growth and mature markets. We aim to be essential to the bright future of global trade by ensuring that everything we do has a lasting positive impact on economies and society.
The team counts over 36.000 employees from 103 countries, cultivates long-standing relationships with governments, shipping companies, importers and exporters, communities and many other important components of the global supply chain, to add value and provide quality services today and tomorrow.
Container handling is the company's core business and generates over three quarters of its revenue. In 2017, DP World managed 70 million TEUs (twenty foot equivalent units) in its portfolio. With its committed pipeline of developments and expansions, the current gross capacity of 88 million TEU is expected to rise to over 100 million TEU by 2020, in line with market demand.
Thinking about the future, foreseeing change and innovation, DP WORDL aims to create more productive, efficient and secure business solutions globally.