DP World Wins Bid to Run Part of Key Tanzanian Port for 30 Years

DP World Ltd. said it won a bid to operate part of Tanzania’s Dar Es Salaam port and will invest more than $250 million to upgrade the facilities.

(Bloomberg) — DP World Ltd. said it won a bid to operate part of Tanzania’s Dar Es Salaam port and will invest more than $250 million to upgrade the facilities.

Investment may increase to $1 billion during the concession period, according to a statement on DP World’s website. The deal expands the Dubai-based company’s reach across the east Africa, where it already has interests in Somalia, Eritrea, Djibouti and Mozambique.

Tanzania announced in June it was in talks with DP World to manage the port’s berths one through seven. President Samia Suluhu Hassan, who is fast-tracking several large projects including a liquefied natural gas terminal, wants DP World to triple revenue from the facility to 26.7 trillion shillings ($10.7 billion) over the next decade from 7.76 trillion shillings in 2021-22, Works and Transport Minister Makame Mbarawa said in June. 

Fresh investment from DP World is expected to help reduce congestion and slash the average stay for a vessel to 24 hours from five days, and speed up clearing times to 60 minutes from 12 hours, Mbarawa said.

DP World will handle roll-on/roll-off, bulk, general cargo and containers to cater to future trade demand from eastern and southern Africa, according to the statement. 

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