Horndiplomat-Dp General CEO Sultan Ahmed Bin Sulayem said in a TV interview in Dubai Sunday the declaration by the Federal Government of Somalia as null and void the shareholding agreement with Ethiopia and Somaliland would not affect the implementation of the concession.
“Somalia can’t change anything about the tripartite agreement reached Between Dp World, Somaliland and Ethiopia over Berbera port,” said Sulayem.
Bin Sulayem went further to Somaliland was an independent country from Somalia.
“Somaliland is an independent country for more than 28 years and makes its own decision and its parliament approved this project.”
Last week DP World Officially declared the Ethiopian government had taken a 19 percent stake in Somaliland’s Port of Berbera.
The port operator said it would retain a 51 percent stake in the port and that Somaliland would retain 30 percent.
DP World took a 65 percent stake in the port in 2016 as part of a joint venture with the government of Somaliland under a 30-year concession.
Financial details were not disclosed but the statement said the Ethiopian government would invest to develop the Berbera Corridor, a road from the border with Ethiopia to Berbera.
DP World said in 2016 as much as $442m would be invested to develop the port.
By: Mohamed Duale Chief Editor of Horndiplomat Tweets @MohamadDuale