Dubai Ports: The agreement signed with Senegal enhances the benefits of the Dakar Port concession for a period of 50 years

Dubai Ports World - the leading global provider of integrated smart logistics solutions - confirmed that its expansion in investments in the African continent reflects the commitment of the Emirate of Dubai and its leading economic institutions to develop and implement projects that would enhance economic growth in brotherly and friendly countries, and the keenness of its institutions to discover and activate opportunities that would Achieving joint successes that serve the economic goals of both sides of each cooperation, opens new horizons for growth and supports sustainable development for both sides. 

DP World clarified that the agreement it recently signed with the Senegalese government to develop a sea port in the deep waters in the "Nadayan" region away from the new port from the existing port by about 50 km comes within the framework of this commitment within the Dakar Port concession, which will last for 50 years, over two periods. Each period of 25 years begins with the launch of the new port's operations, according to the appendix that was added to the current concession granted in 2017.

DP World indicated that this agreement is the result of extensive consultations held between His Excellency Senegalese President Macky Sall and Sultan Ahmed Bin Sulayem Chairman and CEO of the Dubai Ports World Group, to make the new port an additional support element that contributes to pushing forward the economic development process in Senegal and helps to enhance its attractiveness for foreign direct investment.

Sultan Ahmed Bin Sulayem, Chairman and CEO of DP World, praised the value of this agreement and its impact on enhancing the Group's presence in the West African region, in the context of the growing interest in the African continent and the huge opportunities for growth and expansion that its emerging markets hold in the framework of partnership with countries with Great economic ambitions that we are working to pair with our vast experience and world-class capabilities in order to achieve joint successes that enhance the prospects for economic development in the countries of that important region of the world, stressing that the new port will have a positive impact in creating more job opportunities and enhancing the attractiveness of Senegal. For foreign direct investments, and providing promising commercial opportunities that achieve economic diversification. 

The agreement was signed in Dakar by the Minister of Fisheries and Maritime Economy of Senegal, Alioni Nadwi, the Director General of the Port of Dakar, Abu Bakr Siddiq Bey, and the Chairman of the DP World Group, where DP World - Dakar, which was established under the partnership between the DP World Group, will Dakar Port will establish and manage a container terminal of 300 hectares, and will design and finance the required development work in the onshore and offshore infrastructure of the new port of 600 hectares.

DP World - Dakar will invest $ 837 million in the first phase of the project, while it is the largest investment made by the private sector in Senegal’s history. The company is also expected to invest $ 290 million in the second phase.

The Senegalese side, represented by His Excellency Sheikh Kante, Minister of State and the Special Envoy of His Excellency the President of Senegal, expressed his appreciation for this partnership and the fruitful agreement that would enable Senegal to retain its position as a maritime gateway to the region, as well as its impact on achieving the goals of the "rising Senegal" vision that enjoys support. President Macy Sall.

The first phase of the project is scheduled to run alongside the current DP World - Dakar container terminal, while the Senegalese government’s vision aims to develop Ndayan Port as a center for shipping activities over the next 100 years

. DP World also plans to establish a special economic zone near From the port of Ndayan to increase the investment attractiveness of Senegal to foreign companies wishing to invest in the West Africa region. 

Senegal is the second country to join the "global logistical passport" initiative launched by Dubai to enhance investment opportunities and trade exchange between developing markets, and to overcome trade barriers, thus contributing to strengthening Senegal's position as a major trade center for the West African region. 

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