Puntland MPs Endorse a Concession with UAE's DP World to Develop Bosasso Port

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Friday July 28, 2017 - 12:09:24 in Latest News by SomaliUpdate Staff Reporter
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    Puntland MPs Endorse a Concession with UAE's DP World to Develop Bosasso Port

    GAROWE (Somali Update Online) — Members of the House of Representatives in Somalia's semi-autonomous state of Puntland endorsed a concession by the region's president with the UAE-owned Dubai Ports World to develop Bosasso Port.

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In April 2017, Puntland President Abdiweli Gaas signed the concession with DP World executive Sultan Ahmad Bin Sulayem inm Dubai, AUE. | File Photo.
GAROWE (Somali Update Online) — Members of the House of Representatives in Somalia's semi-autonomous state of Puntland endorsed a concession by the region's president with the UAE-owned Dubai Ports World to develop Bosasso Port.
On Thursday, 59 out of 60 lawmakers voted in favour of the deal signed in April this year. Only one legislator rejected the deal.
"The Puntland Parliament today held a session which the Minister of the Ports and Sea Resources presented the agreement to develop Bosasso Port. 59 lawmakers voted yes for the agreement. Only one opposed." The regional parliament Speaker Ahmed Ali Hashi said.
Shortly before the voting, Puntland Minister for Ports and Sea Resources Said Mohamed presented the documents of the deal signed by President Abdiweli Mohamed Ali "Gaas' and the DP World executive Sultan Ahmad Bin Sulayem alongside a short video clip about the port extension work to be implemented under the deal.
"After the extension, Bosasso Port will become a regional hub with modern equipment," the minister said. "DP World will then manage and operate the port services."
Under the agreement, DP World will operate the multi-purpose port project at Bosasso for 30-years.  The approximate investment for the modern multi-purpose facility will be $ 336 Million divided into two phase; $ 136 Million in the first phase and $200 million in the second phase, according to documents of the agreement seen by Somali Update Online.
The project will involve building a 450m quay and 5 hectare back up area. There will also be major investment in an Information Technology and Terminal Operating System (TOS), mobile harbor cranes and container handling equipment at the port.
Puntland, which is semi-autonomous Somalia Federal Member State has been battling an Islamist insurgency for the past decade threatening the relative peace in the region.
It is worthy noting that DP World won another 30-year agreement with an automatic 10-year extension to manage and develop a multi-purpose port project at Berbera in the neighboring Somali territory of Somaliland by investing $442 million.
The agreement, yet to be implemented has attracted outrage from Somalia's Federal Parliament and locals in Somaliland.
 
- SOMALI UPDATE ONLINE -


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