Independent journal on economy and transport policy
08:08 GMT+2
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DP World signs a preliminary agreement for the modernization and management of the port of Berber
the terminalista group collects 1,2 billion dollars with the emission of obligations sukuk
May 30, 2016
The terminalista group DP World of Dubay has announced to have signed a term sheet agreement in order to constitute joint venture with the objective to invest in the Berber port of and managing the port of call of the Somaliland. The preliminary understanding, that it takes part of a wider agreement between the Emirate of Dubay and the government of the Republic of the Somaliland, previews the possible investment until 442 million dollars based on the volume of enlivened traffic and the institution of a bonded area.
"The investment in this port in deep waters - it has emphasized the president and managing director of DP World, Ahmed Bin Sulayem - will attract a greater number of navigation companies to the East Africa and its modernization will act which catalyst for the increase of the nation and the economy of the region".
While deep DP World has announced to have harvest for 1,2 billion dollars in certificates of investment sukuk to seven years with the scope of the quotation the new issue on the securities market Nasdaq Dubay.
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