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DP World signs Dar es Salaam concession

DP World has signed a 30-year concession agreement with the Tanzania Ports Authority (TPA) to operate and modernise the multi-purpose Dar es Salaam Port, as the first phase of a multi-phase investment plan. DP World will initially invest more than $250 million to upgrade the port and this could increase to $1 billion during the concession period, alongside hinterland logistics projects.

The Port has greatly benefitted from recent investments made by the Government of Tanzania to improve its infrastructure. DP World will work with the TPA alongside the Port’s existing stakeholders to build on this progress to allow faster cargo clearing and improved cargo planning. Improved efficiency is expected to help attract more shipping lines and bigger ships into Dar es Salaam, which will ultimately lead to lower ocean freight costs for Tanzanian importers and exporters.

DP World will make a range of investments in future, including potential investments in temperature-controlled storage to enhance Tanzania’s agricultural sector, as well as enhanced connections to rail-linked logistics networks.There are also plans for the creation of a special economic zone.

The post DP World signs Dar es Salaam concession appeared first on Latest Maritime & Shipping News Online – The Maritime Standard.

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