Dubai-based DP World said the Ethiopian government had acquired a 19 per cent stake in Somaliland Port Authority’s Port of Berbera.
Under the deal DP World will hold a 51 per cent stake in the project, Somaliland 30 per cent and Ethiopia the remainder.
The government of Ethiopia will also invest in infrastructure to develop the Berbera Corridor as a trade gateway for the inland country.
There are plans to construct an additional berth at the port of Berbera, with DP World implementing the master plan and adding equipment to further improve efficiencies and productivity.
The first cranes are scheduled to arrive later this year.
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