Senegal government paves way for the biggest private investment in the country. Economy to benefit.
Project: Deep water Port at Ndayane
Project cost: $1.13 bn
Location: Ndayane, near Dakar, Capital of Senegal.
Company: DP World Dakar JV
Senegal President Macky Sall on Monday laid the foundation stone for the construction of a $1.13 billion deep-water port being developed by Dubai’s state-owned port operator DP World at Ndayane, around 50 km (31 miles) south of the capital Dakar.
DP World Dakar, a joint venture between the Dubai-based logistics provider and the Port Authority of Dakar (PAD), is the biggest private investment in the West African country.
DP World has said the first phase will include 840 metres of quay and a 5 km marine channel designed to handle 366-metre vessels, with a second phase adding 410 metres of container quay and further dredging to handle 400-metre vessels.
DP World would develop and operate the 300-hectare container terminal, as well as finance and design the land and maritime infrastructure. DP World Chairman Sulayem said that the new port will bring greater economic growth, prosperity, and jobs to the region and the country.
The developer DP World is a company owned by the government of Dubai which specialises in cargo logistics, port terminal operations, maritime services and free trade zones. While DP World operates around 150 business units in 60 countries, the company has material exposure to Dubai, with around 40% of the group’s EBITDA in 2020 generated from its Dubai assets – mainly from the Jebel Ali port and its free zone, according to Moody’s.
