DP World Wins Bid to Run Part of Tanzanian Port for 30 Years
- Dubai-based firm to invest $250 million to upgrade facilities
- Investment may rise to $1 billion over the concession period
The Dar es Salaam port in Dar es Salaam, Tanzania.
Photographer: Dong Jianghui/Xinhua News Agency/Getty ImagesThis article is for subscribers only.
DP World Ltd. won a bid to operate part of Tanzania’s Dar es Salaam port and will invest more than $250 million to upgrade the facilities.
Investment may increase to $1 billion during the concession period, according to a statement on DP World’s website. The deal expands the Dubai-based company’s reach across East Africa, where it already has interests from Somalia to Mozambique.