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Global ports operator DP World signed an agreement with Senegal to develop its Ndayane deep-water port, marking the Dubai-based company s biggest port investment in Africa to date.
DP World Dakar will invest a total of $1.1 billion over two phases of the project, which is expected to boost Dakar s position as a major logistics hub and gateway to west and north-west Africa, it said in a statement on Wednesday. This will be DP World s biggest port investment in Africa to date, and is a testament to our commitment to Senegal and belief in its potential for further economic growth, Sultan bin Sulayem, DP World s chairman and chief executive, said. The new port will create jobs, attract new foreign direct investment to the country and enable new trading opportunities that bring about economic diversification.