Abu Dhabi, UAEFriday 3 April 2020

DP World close to finalising agreements on construction of new port and economic zone in Senegal

Port du Futur in Dakar will serve as gateway to West Africa

Dubai Nasdaq-listed DP World plans to return to private ownership following a $16.75 per share offer to minority shareholders - a 29 per cent premium on the previous day's closing price. The National
Dubai Nasdaq-listed DP World plans to return to private ownership following a $16.75 per share offer to minority shareholders - a 29 per cent premium on the previous day's closing price. The National

DP World, the world's largest port operator, will finalise agreements on the construction of a new port and economic zone in Dakar, Senegal, the company said on Sunday.

"The project will support the economic growth of Senegal by developing Dakar into a major logistics hub and gateway to west and north-west Africa," the operator said following a meeting on Friday in Abu Dhabi between Macky Sall, the president of Senegal, and Sultan Ahmed bin Sulayem, group chairman and chief executive of DP World.

DP World has designed a master plan for the development of the Port de Futur, which will develop into a multi-purpose port including economic and logistics zones adjacent to the new Blaise Diagne International Airport. DP World will be responsible for the development of the initial phase of the port, constructing a modern north-west container terminal capable of handling the largest container vessels in operation today.

“The economic zone in Dakar will serve as a great aggregator of cargo, creating a hub for African exporters and importers and generating value for Senegal and businesses in the region,” said Mr bin Sulayem. “We discussed the great progress of the Senegalese economy and the role DP World can play in the development of a port and economic zone serving west and north-west Africa.”

The development of the Port de Futur allows for the creation of cargo and free movement of goods to support the country’s ‘Plan Senegal Emergent,’ unleashing new trading opportunities that can bring about economic diversification and boost non-resource exports. The port will reinforce Senegal’s position as an Investment and Trade hub in West Africa and help attract new foreign direct investment to the country.

In Africa DP World has operations in Senegal, Egypt, Mozambique, Somaliland, Rwanda, Algeria and the Democratic Republic of Congo.

Updated: February 9, 2020 09:00 PM

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