Infographic Breakdown:
- DP World is considered one of the world’s largest port operators with 78 DP World marine and inland terminals from more than 40 countries including the UK and Djibouti.
- DP World serves 70,000 vessels per year. In addition, DP World handles 70.1 million in Twenty-Foot Equivalent Units (TEU) which is used to measure a ship’s cargo carrying capacity. By 2020, this is expected to grow to 100 million in TEU gross capacity.
- DP World signed a $442 million investment deal with the government of Somaliland in 2016. DP World’s share of the deal was later revised to a 51% stake in Berbera Port in exchange for a 30-year concession given to DP World for the management and development of the port.
- In March 2018, this deal was expanded to include the Federal Government of Ethiopia which purchased a 19% share of the Berbera port concession. As such, the Berbera Port deal became a tripartite deal with Ethiopia contracted to develop the Berbera Corridor highway in conjunction with the Somaliland government.
- In March 2018, the government of Somaliland and the UAE government based in Dubai signed a final agreement to develop a greenfield economic free zone in Somaliland located next to the Port of Berbera. The Somaliland and Dubai-based government expect to break ground on the 12 square kilometre free-zone later this year.
- The DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem said: “Our vision for Berbera is to make it a regional maritime hub in the Horn of Africa.”