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DP World is a multinational logistics company ... and issued 3.818 billion shares, ... Ethiopia became a major shareholder following an agreement with DP World and ...
The livestock terminal at Doraleh Multipurpose Port was inaugurated in January 2021 in partnership with Ethiopia. [10] The facility can handle 2.5 million animals per year, or 1,000 heads of camel, 500 heads of cattle and 4,270 heads of goat or sheep per day.
On 1 March 2018, Ethiopia became a major shareholder following an agreement with DP World and the Somaliland Port Authority. DP World holds a 51% stake in the project, Somaliland 30% and CDC Group the remaining 19%. [12] As part of the agreement, the government of Ethiopia will invest in infrastructure to develop the Berbera Corridor as a trade ...
A DP World spokesperson said: “Following constructive and positive discussions with the Government, we have been given the clarity we need. We look forward to participating in Monday’s ...
A similar 2018 deal which would have given Ethiopia a 19% stake in the port of Berbera, alongside a 51% stake going to Emirati logistics company DP World holding a 51% share, was abandoned in 2022. [5] Abdi said the agreement would lead Ethiopia to set "a precedent as the first nation to extend international recognition to our country".
In July 2021, a seventh decision in DP World’s favor came about when the Tribunal ruled that PDSA, a company that managed the terminal with DP World in a joint venture until 2018, had breached the joint venture agreement by unilaterally breaking it and transferring its shares to the Djibouti government that year.
According to World Bank, the volumes handled in the Port of Berbera are expected to increase from 3.0 million ton in 2016 to 18.1 million ton in 2050.With approximately 47.1 percent of the volumes handled by the Port of Berbera in 2050, dry bulks are predicted to be the largest cargo type, followed by containers with 39.4 percent and general cargo with 9.3 percent.
In 2018, Ethiopia signed an agreement with Djibouti to access the port. Ethiopia announced its intention to hold a stake in the Port of Djibouti, a gateway for trade, in May 2018. Djibouti had been seeking foreign investors due to the termination of Dubai's state-owned DP World concession and failure to have a contract for six years. [64]