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
