DUBAIEthiopia has acquired a 19 per cent stake in the Port of Berbera in Somaliland following an agreement with DP World and the Somaliland Port Authority. The agreement leaves DP World as the majority shareholder in the port, with 51 per cent. The deal announcement comes a week after the government of Djibouti illegally seized the Doraleh Container Port, where DP World holds a 30-year concession. Despite the seizure — which DP World is contesting through the London Court of International Arbitration — DP World Chairman and CEO Sultan Ahmad Bin Sulayem still referred to the port while commenting on the new deal. “In addition, Ethiopian participation in the development of port of Berbera and the Berbera Corridor will help bring increased economic development and opportunity to the people of Somaliland.

Source: Ethiopian News March 01, 2018 15:00 UTC