Africa Development FDI Infrastructure Logistics Port Senegal UAE

DP World to invest US$1B to develop new port in Senegal

DP World signed an accord to invest more than US$1B to develop a deep-water port in Senegal, making it the Dubai-based firm’s biggest port investment in Africa.

DP World Dakar will invest US$837M in the first phase to build the port in Ndayane, followed by another US$290M, according to a statement.

“The new port will further reinforce Dakar’s role as a major logistics hub and gateway to West and North West Africa.”

DP World said it’s also planning to develop a special economic zone next to the Ndayane port.

Also read: Need for yield pushes investors into Senegal, Ghana

Source: Bloomberg

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