Somalia: Somaliland Parliament endorses Berbera Port Deal
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- Posted On 09-08-2016, 01:43PM
HARGEISA, Somaliland-Lawmakers in Somaliland parliament have backed a deal struck between the breakaway state and Dubai-based giant firm, DP World on Tuesday, Garowe Online reports.
The USD 442 million joint venture passed with 69 votes in favor, and 4 against among 73 MPs present at the session.
Parliament Speaker and Opposition Wadani leader Abdirahman Mohamed Abdullahi Iro has not voted on the deal.
The endorsement followed heated exchanges among MPs in Somaliland parliament.
On August 6, the government put forward the deal for debate and parliamentary approval despite domestic criticism of the agreement with DP World.
In mid-May, Somaliland high level delegation clinched the USD 442 million joint venture with the shipping and port operator which manages 65 marine terminals throughout six continents.
The firm will run Somaliland’s Berbera port for 30 years with the disclosed amount over time. In return, it will receive 60 percent of revenues to be generated.
DP World said in statement that the agreement aims to transform Berbera port into a “regional and logistic hub” by providing an additional gateway for land-locked Ethiopia.
GAROWE ONLINE
