DP World to upgrade Tanzanian port
DP World has signed a 30-year concession agreement with the Tanzania Ports Authority (TPA) to modernise and operate the multi-purpose Dar es Salaam Port. The agreement aims to enhance transport and logistics services in Tanzania and the region.
DP World will invest over USD 250 million initially, with the potential for further investment of up to USD 1 billion during the concession period. This investment is expected to create jobs and improve access to products and services, contributing to Tanzania's socioeconomic development.
The port will be connected to sub-Saharan Africa through various transport networks, meeting the increasing demand for logistics solutions and bolstering regional businesses' access to global markets. Recent infrastructure investments by the Tanzanian government have already benefited the port. (pb)