DP World has signed a 30-year concession agreement with the Tanzania Ports Authority (TPA) to operate and modernise the multipurpose Dar es Salaam port, the country’s largest port, in a deal that has been making headlines for months.
DP World will initially invest more than $250m to upgrade the port and the investment could increase to $1bn during the concession period, alongside hinterland logistics projects.
The port will connect to the hinterland of sub-Saharan Africa through a network of roads, highways, railways and dedicated freight corridors and ports.
Sultan Ahmed Bin Sulayem, CEO of DP World, said: “The development will deliver trade opportunities for the region, connecting East Africa and broader sub-Saharan Africa with global markets, driving economic growth, job creation, enhanced access to products and service, and creating value for all our stakeholders.”
