$1.1 Billion Port of the Future to be Launched in Senegal by 2023

erial photography of container terminal

Senegal is constructing a $1.1 billion superport near the town of Ndayane, 50km southeast of the capital, Dakar. Dubbed the ‘Port of the Future’, the new multifunctional port will be technologically advanced and operationally efficient. By modernizing its current port infrastructure – critical as the country moves to develop its offshore discoveries – and prioritizing new port developments, Senegal is positioning itself as a West African trade hub, driving investment and facilitating a much-needed COVID-19 recovery.

Developing the deep-water seaport is Dubai-based logistics company DP World. According to the agreement signed on 23 December 2020 with the Dakar Port Authority, DP World will fund, design, and construct a greenfield port on a 600ha site roughly 50km from the country’s existing port, near the Blaise Diagne international airport, just north of Ndayane. The company’s involvement in the ‘Port of the Future’ project in Dakar comprises the largest private sector infrastructure investment in the history of Senegal.

DP World will begin the first phase of construction next year, which will require an initial capital investment of $837 million. This includes the construction of the terminal, 840m of quayside, and the excavation of a 5km-long waterway capable of accommodating 360m Chinamax boats, the world’s largest container vessels.

An additional $293m is currently under discussion to be invested by DP World during the second phase in which 410m of container quay will be installed as well as the dredging of the maritime channel to handle 400 million tons of cargo. Less than $0.6 billion of investment is estimated to remain to meet the total estimated required investment for the project.

Click on the link below for full report

Source: EnergyCapitalPower

Leave a Reply

Your email address will not be published.