DP World has committed to investing up to $442 million to develop and expand Berbera Port, and with the first phase now complete, Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World said that work is already underway to further expand the port in a second phase.
Also, part of the overall Berbera plan is the Berbera Economic Zone.
“Our further expansion of the port in a second phase, and its integration with the special economic zone we are developing along the Berbera Corridor, reflects our confidence in Berbera and intent to develop it into a significant, world-class centre of trade,” he said.
“It will be a viable, efficient and competitive option for trade in the region, especially for Ethiopian transit cargo,” Sulayem added.
The second phase includes extending the new quay from 400 to 1,000 metres, and installing a further seven STS gantry cranes, increasing the total from three to 10, enabling the port to handle up to two million TEUs a year, and multiple large container vessels at the same time.
Muse Bihi Abdi, President of Somaliland, said: “With the new terminal, along with the second phase of expansion and economic zone along the Berbera corridor, we are now firmly positioned to further develop and grow our economy through increased trade, attracting foreign direct investment and creating jobs.”
According to the global port operator, DP World Berbera, which began operations at the port in March 2017, has since increased volumes by 35 percent and vessel productivity by 300 percent, and reduced container vessel waiting time from four to five days, to only a few hours.
The first phase of the Berbera Economic Zone is under construction. The economic zone is modelled on DP World’s Jebel Ali Free Zone in Dubai.
The economic zone is linked to the port and strategically located along the Berbera to Wajaale road (Berbera Corridor).
It will serve as a centre of trade with the aim to attract investment and create jobs, and will target a range of industries, including warehousing, logistics, traders and manufacturers, DP World said.
(Writing by Seban Scaria; editing by Anoop Menon)
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