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DP World, CDC Group pledge $1.7 bn to develop ports in Africa

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DP World will invest around $1 bn in Dakar in Senegal, Ain Sokhna in Egypt, and Berbera

Dubai-based port operator DP World is partnering with UK-based state-owned CDC Group to invest $1.7 billion to develop ports in Africa, media reports said. DP World will invest around $1 billion in facilities at Dakar in Senegal, Ain Sokhna in Egypt, and Berbera.

CDC Group will commit $320 million initially and an additional $400 million over the next few years.

Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World told the media, “DP World views Africa as a long-term growth market and the opportunity landscape remains significant.

“This partnership with CDC offers us greater flexibility to accelerate and capitalise on these opportunities, and will enable us to increase our investment in ports and logistics infrastructure across Africa.”

Earlier this month, DP World opened a new 11.5 acres empty container park at Southampton to increase storage capacity during the upcoming festive season. The new container park was developed with an investment of around £3 million.

The new park is part of DP World’s ongoing £40 million investment to take the port at Southampton to the next level as a smart logistics hub – which will provide customers with speed, security, reliability and flexibility.

Ernst Schulze, UK chief executive of DP World told the media, “We now have 25 percent more storage capacity at Southampton than before which will enable us to maintain productivity and service levels for the vital next few months and beyond.”

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