Terminal operators Somalia: DP World to finish $366 million Bosaso port expansion this year

The project, which will cost $366 million, is being financed by a unit of Dubai’s state-owned DP World. The port on the Gulf of Aden, in the semi-autonomous Puntland region, is one of several facilities the company is developing in the Horn of Africa. A second expansion phase will begin next year.

A unit of DP World won a 30-year concession in 2017 to develop and manage a multi-purpose port in Bosaso, Puntland’s commercial capital. The company has a similar accord for Berbera port in the neighboring Somali territory of Somaliland.

Source: Bloomberg