Construction Ethiopia agrees infrastructure deal with DP World ByGovernment buys 19% stake in Port of Berbera and develop trade gatewayEthiopia has signed an agreement with DP World and the Somaliland Port Authority which will see it acquire a 19% stake the Port of Berbera as well as committing to developing the Berbera Corridor as a trade gateway for the inland country. Under the terms of the deal, Ethiopia will have close to a fifth of stake in the hub, while DP World will hold a 51% stake in the project and Somaliland 30%. The ports of Berbera and Doraleh will provide significant capacity to the region,” said DP World Group chairman Sultan Ahmed Bin Sulayem. Having the Government of Ethiopia as a partner will enable DP World to support the Government in achieving its impressive development plans. The economies of the region are growing at a pace that necessitates the development of multiple ports and outlets.

Source: Ethiopian News March 04, 2018 10:18 UTC