P&O Ports, owned by the Government of Dubai, has won a 30-year concession for the management and development of a multi-purpose port project at Bosasso in the Puntland State of Somalia.
The approximate investment for the modern multi-purpose facility will be $336 million (Dhs1.235b) divided into two phases: $136 million for Phase 1 and $200 million for phase 2.
President of Puntland, Abdiweli Mohamed Ali, and the Chairman of Ports, Customs & Freezone Corporation (PCFC), Sultan Ahmed bin Sulayem, signed the agreement at a ceremony in Dubai today, 6th April 2017, in the presence of senior government officials and representatives of PCFC.
Work on the project will involve building a 450m quay and a 5 hectare back up area, dredging to a depth of 12m with reclamation work using dredge spoil.
There will also be major investment in an IT and Terminal Operating System (TOS), mobile harbour cranes and container handling equipment.
President of Puntland, Abdiweli Mohamed Ali, said: ‘’This investment is a huge undertaking in Puntland and will greatly contribute to the infrastructure development in Somalia, particularly the Puntland State of Somalia.
Infrastructure development is a priority for the government of Puntland as it underpins the efforts of taking this country forward.
This concession agreement of expanding the Bosasso port is a major achievement for my government and for the people of Puntland.
It promotes the historical and the trade relations between the UAE and Somalia.’’
Source:Gulftoday
P&O Ports to manage Somalia port
Published: April 7, 2017
