Dubai Ports World (DP World) has signed a 30-year concession agreement with the Tanzania Ports Authority to operate and modernize the multi-purpose port of Dar es Salaam, with the aim of connecting Tanzania and the region to global markets.
The concession agreement was signed yesterday by the Director General of the Tanzania Ports Authority, Placidios Mkile Mbusa, and the Chairman and CEO of DP World Group, Sultan Ahmed Bin Sulayem, in the presence of the President of the United Republic of Tanzania, Samia Sulu Hassan.
DB World was granted the concession to operate and modernize the port of Dar es Salaam, with the aim of improving port operations and improving transportation and logistics services in Tanzania and its remote areas.
This is the first phase of a multi-stage investment plan, as DP World will initially invest more than $250 million to modernize the port, and the volume of investment can rise to $1 billion during the concession period, in addition to logistics projects in remote areas.
This investment will have a positive impact on Tanzania’s social and economic development in terms of generating employment opportunities, increasing access to products and services, among other benefits.
The port will connect to remote areas in sub-Saharan Africa, through a land network that includes highways and railways, in addition to shipping lanes and designated ports, thus supporting the growing demand for logistical solutions from all over the continent, and linking companies in the region to global markets.
The port has benefited greatly from the investments recently made by the Tanzanian government to improve its infrastructure. DP World Group will work with the Tanzania Ports Authority, along with existing stakeholders in the port, with the aim of building on this progress and enabling faster cargo clearance and improved shipping planning processes, enhancing Dar es Salaam’s role as a maritime gateway for green energy minerals from the “Belt Belt” countries. Copper” in South-Central Africa. Improving efficiency will also attract more shipping lines and larger ships to Dar es Salaam, thus reducing sea freight costs for Tanzanian importers and exporters.
DB World will make future investments in modernizing the port, including anticipated investments in temperature-controlled storage warehouses to boost Tanzania’s agricultural sector, as well as increasing connectivity to rail-related logistics. The investments are also expected to include the future development of a special economic zone and the wider port logistics sector, which will enhance Tanzania’s role and influence on the future of global trade.
Sultan Ahmed bin Sulayem, Chairman of the Board of Directors and CEO of DP World Group, said: “We are honored to partner with the government of Tanzania to revitalize the port of Dar es Salaam, as this approach is in line with Tanzania’s strategic development plans, and confirms the wise leadership vision of the President of the Republic of Tanzania.” United, Samia Sulu Hassan. This development will provide trade opportunities for the region, connect East Africa and Sub-Saharan Africa to global markets, and enhance economic growth, in addition to generating job opportunities, strengthening access to products and services, and creating value for all stakeholders. “Alongside the other ports we operate, this concession agreement represents another milestone in our joint efforts to leverage the global and local expertise of the DP World Group in strengthening supply chains in the region to support economic growth on the African continent.”
• The volume of investment could rise to one billion dollars during the concession period, in addition to logistics projects in remote areas.
2023-10-22 20:01:51
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