Britain to invest £ 515m in port infrastructure in Africa

by time news

The CDC Group, controlled by the UK Foreign Office, has signed a long-term partnership with DP World, a Dubai-based logistics group. At the first stage of its implementation, the parties will invest in the development of the ports of Dakar (Senegal), Ain Sokhna (Egypt) and Berbera (the self-proclaimed state of Somaliland). The British side will invest £ 515 million in these projects, and the remaining £ 710 million will be invested by DP World.

As the companies said in a joint statement, “the partnership will help address clear imbalances in global trade, enhance Africa’s potential as a global trade center, and improve the economic prospects of millions of people.”

British Foreign Secretary Elizabeth Truss said the projects will provide “secure and fair investment in developing countries” and provide additional opportunities for British firms.

Kirill Sarkhanyants

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