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DP World Hints at Eritrea Investment

DP World Hints at Eritrea Investment

DP World believes Eritrea has the potential to be a major logistics hub, according to its CEO Sultan Ahmed bin Sulayem.

In an interview with Bloomberg, Bin Sulayem claimed the Dubai-based port operator is examining the potential of the whole of Africa, particularly following its dispute with Djibouti over the Doraleh Container Terminal (DCT).

The legal battle began with Djibouti expelling DP World from the country and assuming control of the DCT in February 2018.

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Since then, the London Court of International Arbitration has ruled that the concession agreement that gave DP World control over the DCT remains in place and legally binding, a decision upheld by High Court.

PTI Q&A – Djibouti's International Free Trade Zone

According to Bloomberg, DP World has not been approached by the government of Djibouti, either formally or informally, regarding a settlement offer.

The company has also been carrying out assessments throughout Africa, but didn’t specify how many harbours it will seek to build.

In his interview, Bin Sulayem emphasised the potential of Djibouti’s neighbour, Eritrea.

He said: “Eritrea is going to have a major role.

“We believe that the way we should look at the Horn of Africa is not at Eritrea alone, but add to the equation South Sudan, other parts of Sudan, and Eritrea’s needs, and then the Ethiopian population.”

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