DP World to invest $250m in deal to run part of Tanzanian port

DP World Ltd. has successfully won a bid to manage a portion of Tanzania's Dar es Salaam port and is committing to invest more than $250 million in upgrading the port's facilities. During the concession period, this investment could potentially increase to $1 billion, as stated in a statement.

The Tanzanian government had announced its intentions to engage in discussions with DP World in June regarding the management of certain port facilities. President Samia Suluhu Hassan, who is overseeing various significant projects, including a liquefied natural gas terminal, aims for DP World to triple the facility's revenue over the next decade, targeting $10.7 billion, as relayed by Works and Transport Minister Makame Mbarawa in June.

As part of the 30-year concession, DP World will manage berths four to seven. Tanzania is also actively seeking private investors to operate a four-berth container terminal following the expiration of the lease agreement with Hutchison Ports in December. This strategic agreement expands DP World's presence in East Africa, where the Dubai-based company already has interests spanning from Somalia to Mozambique.