{"id":9036,"date":"2021-10-13T21:08:23","date_gmt":"2021-10-13T21:08:23","guid":{"rendered":"https:\/\/sooha.org\/en\/?p=9036"},"modified":"2021-10-17T12:12:56","modified_gmt":"2021-10-17T12:12:56","slug":"cdc-to-invest-320m-into-berbera-port-infrastructure","status":"publish","type":"post","link":"https:\/\/sooha.org\/en\/2021\/10\/13\/cdc-to-invest-320m-into-berbera-port-infrastructure\/","title":{"rendered":"CDC to invest $320 mln into Berbera port infrastructure"},"content":{"rendered":"

BERBERA\u00a0 —<\/strong> Dubai Ports Company DP World and the UK\u2019s CDC are investing $ 1.7 billion in Africa\u2019s infrastructure.<\/span><\/p>\n

The investment will modernize three DP World-run ports: Ain Sokhna in Egypt, Dakar in Senegal and Berbera in Somalia, according to the CDC.<\/span><\/p>\n

The joint investment will be expanded to other African countries, which DP World and the CDC hope will boost the continent\u2019s domestic and foreign trade.<\/span><\/p>\n

\u201cWe have a common vision with DP World, which is to invest in as many ports across the continent as possible,\u201d CDC CEO Tenbite Ermias told Reuters.<\/span><\/p>\n

The partnership between the two companies also plans to invest in infrastructure, such as container warehouses and commercial hubs.<\/span><\/p>\n

The partnership, along with the modernization and expansions at the ports, is expected to boost trade in the three territories, as well as further inland in Mali in West Africa and Ethiopia in the Horn of Africa, the companies said in a statement on Tuesday. They intend spending about $1 billion on the port in Dakar alone.\u00a0<\/span><\/p>\n

\u201cIn the short term, it\u2019s about enhancing the capacity of these three countries,\u201d Nick O\u2019Donohoe, CDC\u2019s chief executive officer, said in an interview. \u201cIn the longer term, it is about building out further ports infrastructure in other countries, other regions.\u201d<\/span><\/p>\n

CDC will own a minority stake in the operating structure of the three ports, O\u2019Donohoe said, declining to be more specific on the partnership.\u00a0<\/span><\/p>\n

Source: Radio Dalsan\u00a0 \u00a0 \u00a0Origin: View original<\/span><\/a><\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

BERBERA\u00a0 — Dubai Ports Company DP World and the UK\u2019s CDC are investing $ 1.7 billion in Africa\u2019s infrastructure. The investment will modernize three DP World-run ports: Ain Sokhna in Egypt, Dakar in Senegal and Berbera in Somalia, according to the CDC. The joint investment will be expanded to other African countries, which DP World …<\/p>\n","protected":false},"author":1,"featured_media":9037,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26,1],"tags":[],"class_list":["post-9036","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-development","category-news"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t