P&O Ports Inks Port of Bosasso Concession Agreement
P&O Ports, Government of Dubai owned port operator, has won a 30-year concession for the management and development of a multi-purpose port project at Bosasso in the Puntland State of Somalia.
President of Puntland, H.E. Abdiweli Mohamed Ali, and the chairman of Ports, Customs & Freezone Corporation (PCFC), Sultan Ahmed bin Sulayem, signed the agreement in Dubai today, in the presence of senior government officials and representatives of PCFC.
Work on this project, worth $336 million, will involve construction of a 450m quay and a 5 hectare back up area, dredging to a depth of 12m with land reclamation work using dredge spoil, according to the Government of Dubai’s latest announcement.
“This investment is a huge undertaking in Puntland and will greatly contribute to the infrastructure development in Somalia, particularly the Puntland State of Somalia,” said President of Puntland, H.E. Abdiweli Mohamed Ali.
“Infrastructure development is a priority for the government of Puntland as it underpins the efforts of taking this country forward. This concession agreement of expanding the Bosasso port is a major achievement for my government and for the people of Puntland.”
The agreement will also include major investment in an IT and Terminal Operating System (TOS), mobile harbor cranes and container handling equipment.