DP World Dakar to Invest Over $1 Billion for New Senegalese Mega Port
Trade enabler DP World, a global provider of end-to-end logistics solutions, and the Government of Senegal, have signed agreements for the development of a deep water port at Ndayane, approximately 50 kms from the existing port and near the Blaise Diagne international airport.
The new port will further reinforce Dakar's role as a major logistics hub and gateway to West and North West Africa, and support the realisation of His Excellency, President Macky Sall's ambitious economic development plans for Senegal, the Plan Senegal Emergent (PSE).
DP World Dakar SA, the local joint venture company between DP World and PAD, will not only develop and operate the 300-hectare (ha) container terminal but also finance, design and develop the land and maritime infrastructure of the new 600 ha port.
The first phase of this project will see an investment by DP World Dakar of $837 million, which will make it the single largest private sector investment in the history of Senegal and is expected to be followed by a second phase of investment of $290 million.
Phase 1 will include a new container terminal with 840 mtrs of quay and a new 5 km marine channel designed to handle 366 mtr vessels and capable of handling the largest container vessels in the world.
Phase 2 will create 410 mtrs of additional container quay and a further dredging of the marine channel to handle 400 mtr vessels.
The first phase of the Ndayane Container terminal will be operated alongside the existing DP World Dakar container terminal.
Due to the Government's vision for the development of the Port of Ndayane as a site for the next 100 years of port activities in Senegal, the container terminal will eventually have over 3 kms of quay and 300 ha for the container yard.
This will enable the existing Port of Dakar to be redeveloped into a mixed use residential and commercial waterfront and cruise terminal.
DP World is also planning to develop a special economic zone next to the Port of Ndayane to further strengthen the attractiveness of Senegal to foreign investors looking at the Ecowas region.
The development of such an SEZ serviced by a world class port and airport will become another strong driver for growth of the economy and generation of jobs for the next generation of Senegalese citizens.
Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, said: "This will be DP World's biggest port investment in Africa to date, and is a testament to our commitment to Senegal and belief in its potential for further economic growth.
"The new port will create jobs, attract new foreign direct investment to the country, and enable new trading opportunities that bring about economic diversification.
"I would like to thank His Excellency President Macky Sall, for his leadership and vision for the development of the port, and for partnering with us on this exciting project."
Senegal recently became the second country to join the World Logistics Passport, a major initiative by Dubai established to increase trading opportunities between developing markets, further boosting its position as a trade hub for Africa.
The World Logistics Passport has been created to overcome trade impediments, such as logistics inefficiency, that currently limit the growth of trade between developing markets.