$1 Billion To be Invested in Dar es Salaam Port by DP World ;$250 Million Infrastructure Investment to be Made Soon

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 Dar es Salaam Port is yet to undergo a $1 billion investment to boost its logistics and infrastructure by global ports operator DP World. An agreement to run operations and modernize the port was reached as the firm pursues to expand its footprint in the continent of Africa and also boost supply chain in the region. During the first phase of the multi-phase investment plan, DP World shall make an initial capital investment of more than $250 million to carry out the construction works to upgrade the port as per the deal signed by the Tanzania Ports Authority and Dubai-based DP World.

DP World has set up plans of adding approximately three million Twenty-Foot Equivalent Units (TEUs) of container-handling capacity when the year ends in order to meet the increasing demand that is in the key trade markets. According to the maritime research and consulting services firm Drewry, the plan for expansion has come as global container throughput is foreseen to grow to approximately 932 million TEUs by the year 2025 from 858 million TEUs in the year 2021. During the month of March, DP World and the government of Somalia opened the new Berbera Economic Zone and also the Berbera Port which is foreseen to develop the region into a crucial trade hub that will be of service to the Horn of Africa.

Also read: $3.24 Billion to be Invested in Tanzania SGR Construction by Spain

Dar es Salaam Port Investment by DP World

However, the period of concession the investment in Dar es Salaam Port is foreseen to hit $1 billion, which shall entail the potential investments in setting up temperature-controlled storage that will boost the agricultural sector and also connections to the logistics linked to rail. There will also be a future development of a special economic zone together with the broader logistics sector of the port.

According to the Minister of Transport in Tanzania, Makame Mbarawa, the expertise of DP World to the Dar es Salaam Port is going to play a crucial part in the support of generating quite a number of direct and indirect employment opportunities in the various sectors of transport, distribution, and supply chain in the country.