DUBAI (HAN) September 5.2016. Public Diplomacy & Regional Security News. Dubai port operator DP World says it has secured a 30-year deal to develop and manage a cargo port on Somalia’s semi-autonomous region of Somaliland.
The company said on Monday that it will set up a joint venture with the Somaliland government and control 65 percent of the project in the port of Berbera. An investment of up to $442 million will include a quay and yard expansion as well as cargo cranes.
The concession includes an automatic 10-year extension.
Somaliland seeks international recognition for its claim of independence from the rest of Somalia. It broke away in 1991 after the overthrow of Somali dictator Siad Barre.Dubai government-backed DP World is one of the world’s largest seaport operators, with interests in more than 70 marine terminals on six continents.