DP World Sees Key Role for Once-Isolated State in Port Strategy
- Eritrea may provide trade route amid dispute with Djibouti
- Company sees as many as 12 ports needed in Horn of Africa
Photographer: Chris Ratcliffe/Bloomberg
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The Red Sea state of Eritrea may play a key role in DP World Ltd.’s plans in the Horn of Africa, where a dozen ports could be needed to service the region, Chief Executive Officer Sultan Ahmed bin Sulayem said.
The Dubai-based state-controlled harbor operator is evaluating its strategy in the region after having its stake in a port in Djibouti -- the main trade route for Ethiopia, Africa’s fastest-growing economy -- nationalized by the government. Developing more ports in the Horn, including one it’s already building at Berbera in the self-declared republic of Somaliland, will help boost trade flows to Dubai, Bin Sulayem said in an interview.