DP World to Invest $1 Billion to Develop New Port in Senegal

DP World signed an accord to invest more than $1 billion to develop a deep-water port in Senegal, making it the Dubai-based firm’s biggest port investment in Africa.

DP World Dakar will invest $837 million in the first phase to build the port in Ndayane, followed by another $290 million, according to a statement. “The new port will further reinforce Dakar’s role as a major logistics hub and gateway to West and North West Africa.”

DP World said it’s also planning to develop a special economic zone next to the Ndayane port.

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