DP World wins Dakar concession

DP World wins Dakar concession Dubai-based global terminal operator Dubai Ports World said Tuesday it has been awarded the concession to develop and operate an existing container terminal at the Port of Dakar in Senegal, West Africa, as well as investing in a new terminal at the port.
   Under the agreement, expected to be signed within the coming weeks, DP World said it would invest more than 100 million euros ($134 million) in developing civil infrastructure and equipment in the Terminal ' Conteneur. The work will more than double the capacity from 250,000 TEUs to about 550,000 TEUs. The port authority is also developing an extra 300 meters (984.3 feet) of quay wall and seven hectares of yard space, bringing the total combined berth length to 730 meters (2,395 feet) with 22 hectares of yard area. The first phase of this development will be operational by the beginning of 2008 and complete by 2010, DP World said.
   The second phase of the project will be to design, finance, construct and manage the new container terminal, Port du Futur, which will have potential capacity of 1.5 million TEUs. The new terminal is expected to be operational by early 2011 and will require an overall investment of more than 300 million euros ($400 million).
   “We are pleased to have won this important concession,” said Mohammed Sharaf, DP World’s chief executive officer. “Senegal’s stability has enabled it to become one of the most progressive West African countries which, in turn has brought direct foreign investment and growth in trade. In addition to its strong local economy, Senegal is an important transit gateway to West Africa, and is strategically located at the crossroads of several major trade lanes.”
   Dubai World, DP World’s parent, is also looking at other investments in the West African country, the second-largest economy in the region. Sultan Ahmed Bin Sulayem, Dubai World chairman, said: “There is potential for development of a free zone affiliated to the new port at Dakar and we also see considerable potential for tourism in Senegal with its beautiful coastline and extensive national parks. We are looking at investing in hotels and other recreation facilities there.”