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DP World, Senegal sign $700m Dakar port deal

A Staff Reporter
Filed on October 9, 2007

DAKAR (Senegal) — A signing ceremony attended yesterday by the chairman of DP World and holding company Dubai World, Sultan Ahmed bin Sulayem, and Senegal Prime Minister Cheikh Hadjibou Soumaré, formally handed responsibility for operating and developing Senegal's busiest container terminal to DP World.

The final agreement follows the announcement of DP World as the successful bidder of the international tender in June.

DP World plans to contribute more than 500 million euros ($709 million) through direct investment and participating shareholding by the Port Authority of Dakar, which is at no direct capital cost. Those attending the ceremony included Jamal Majid bin Thaniah, Vice Chairman of DP World and Group CEO of Ports & Free Zones World (P&FZ World), the parent company of DP World and sister business park development company, Economic Zones World (EZW), Senegal's Minister of Maritime Economy Souleymane Ndéné Ndiaye and Director-General of the Port Autonome de Dakar Bara Sady.

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