"This event is a landmark in the history of Somaliland and for DP World. We are delighted that construction work has begun and over the next few years we will see a transformation in the capacity of this major infrastructure asset that will benefit people both here and across the Horn of Africa, providing an alternative gateway to international markets and providing jobs to the people of Somaliland," DP World CEO Sultan Ahmed bin Sulayem said, as quoted in the statement.
"DP World Berbera, the joint venture company, will also serve land locked countries in the Horn of Africa such as Ethiopia which has a 19% stake in the project as a shareholder," the statement read.
The project will reportedly triple the capacity of the port with the first phase costing over $100 million, while cost of the whole project amounts to over $420 million. UAE has also been reportedly constructing a military base at the Berbera airport.
