Arab Emirates (Xinhua) -- A
Dubai-owned port operator announced here on Thursday
winning of a 30-year concession to develop a
multi-purpose port project in Somalia, United Arab
Emirates (UAE) state news agency WAM reported.
The Dubai-owned, London-based P&O Ports said the
concession, worth 336 million U.S. dollars, is for the
development of the Port of Bosaso in the state of
The president of Puntland, Abdiweli Mohamed Ali, and
the chairman of Ports, Customs and Freezone Corporation
(PCFC), Sultan Ahmed bin Sulayem, signed the agreement
at a ceremony in the presence of senior government
officials and representatives of PCFC.
Work on the project will involve building a 450-meter
quay and a 50,000 square meters back up area, dredging
to a depth of 12 meters with reclamation work using
There will also be major investment in an IT and
terminal operating system, mobile harbor cranes and
container handling equipment.
President Ali said infrastructure development is a
priority for the government of Puntland as it "underpins
the efforts of taking this country forward."
This concession agreement of expanding the Bosaso
port is a major achievement for the Puntland government
and its people, said Ali, hailing it as promoting the
historical and the trade relations between the UAE and
PCFC Chairman Bin Sulayem noted that the Port of
Bosaso fits the company’s mandate to invest in
multipurpose ports in emerging markets.
The Port of Bosaso is located in state of Puntland in
Somalia, 2,000 kilometers north of the capital
It occupies a strategic location for maritime
transport in the Gulf of Aden at the southern approach
to the Red Sea and Suez Canal.