DP World to invest $700 million in Dakar container terminals
Dubai Ports World on Monday officially took over the reins of Senegal's busiest container terminal in Dakar and will invest roughly $700 million in the facility, the Dubai-based terminal operator said.
An agreement signed Monday by DP World executives and Senegal's Prime Minister Cheikh Hadjibou Soumar' gives DP World management of the current Dakar container terminal, Terminal ' Conteneur, from the end of this year, and development of a new container terminal at Port du Futur.
DP World said it has committed to investing $163 million in the existing terminal, which will enable a doubling of capacity to about 550,000 TEUs. Two gantry quay cranes will be added in 2008 with a further two in 2009 (the terminal has no gantry cranes able to handle larger vessels). A total of nine gantry cranes are to be installed on the present container terminal and the Port du Futur.
The first phase of the redevelopment is scheduled to be complete by 2010. The second phase will involve the design, finance, construction and management of the new Port du Futur container terminal, which will have potential capacity of 1.75 million TEUs. Port du Futur is expected to be operational by early 2011.