• Home
  • Radio
  • TV
  • Advertisement
  • Disclaimer
  • Public Notice
    • Opinion
  • New Africa Business News
  • Contact
  • Log In
facebook
    • News
    • Business
    • Video
    • Entertainment
    • Sport
    • Jobs
    • Government
    • Immigrants
    • Investment
    • Gallery
      • Animal
      • Africa Map
    • NGO
    BREAKING NEWS
    $12 Billion Environment Financing Center – The Green Climate Fund permitted to earn African Equity Financial Investment to overcome the Impact of a Warming World
    President Samia Suluhu Hassan of Tanzania Inaugurated an Agriculture Program hoped at Committing the Youth to Large-Scale Agribusiness
    New Era for Equatorial Guinea and Cameroon, Signing  Bilateral Agreement through Cross-Border Cooperation
    South Africa and Stellantis has Greeted a Pact to Develop a Unique Automobile Manufacturing Facility
    Dr. Akinwumi Adesina AfDB’s President maintains it is time to Develop Youth-Based Wealth to Bolster a Better Comprehensive Nigerian Economy
    Abidjan to host on March 17th 2023 the 8th Session of the Steering Committee for the Construction Project of a Motorway between Abidjan and Lagos
    Rwanda’s President Paul Kagame and the President of the World Football Association(FIFA) launched the Kigali Pelé Stadium which is changing the name from Kigali Regional Stadium In Nyamirambo the Capital of Kigali
    First Gold Refinery Company BTC Global started the first Gold refinery in South Sudan in Juba
    The AfDB inducted the African Financial Integrity and Accountability Support Project (AFIAP) by way to Enhance Cooperative Ripostes to Illicit Financial Successions in African Nations
    Morocco’s Strawberry Exports Hits $70 Million in Annual Revenue, a New Historical Record

    $1.1 Billion Senegal’s postponed Ndayane Deep Waterport to be Constructed in Coalition with DP World

    Posted On 07 Feb 2023
    By : New Africa Business News, Staff Correspondent
    Comment: 0

    By Abdul Rahman Bangura-

    Photo Credit: Quartz

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- Discovered South of the capital of Dakar, the port was establish to evolve the biggest port enterprise DP World has ever made in Africa.

    The administration of Senegal in 2022 and DP World placed the initial boulder marring what they let out was the outset of the construction of the port. Nonetheless, twelve months delayed, undertaking has stayed in stand still thus, to the letdown of the administration of Senegal to deliver its percentage of financing for the project after agreeing on to boost Senegal’s investment in the project from 10 to 40% Macky Sall – Senegalese President has immediately declared openly that financing is in position and building of the port that is formulated to improve the nation’s stance as a major trade intersection and gateway to West Africa and Northwest Africa will start this month.

    “We have lifted all the constraints linked to financing, and the state has met all its obligations so that this major project can start,” let out President Sall while opening the Second Dakar Financing Summit for Africa’s Infrastructure Development in the nation’s capital, Dakar.

    Being the biggest single special venture in the record of Senegal, the port of Ndayane is anticipated to alleviate the anxiety on the port of Dakar, which has been tussling with congestion and inefficiencies. The new port will be found about 30 miles from Dakar and near to the Blaise Diagne International Airport.

    Ndayane will be a contemporary, deep-water port with up to 10,000 feet of quayside when completely completed in 2026. It will be carried out in two phases. When finalized, the facility is foreseen to loosen crucial financial chances for local Senegalese businesses, create jobs, and enhance the nation’s beauty to foreign investors.

    Phase 1, which is determined to amount to $837 million, will entail the growth of a container terminal with 2,750 feet of quay and a new three nautical mile marine channel formulated to regulate two 1,100-foot vessels equally. It will be able of dealing with the biggest container vessels in the world and will enhance container handling capacity by 1.2 million TEUs per year.

    In phase 2, which will be implemented at a cost of $290 million, an extra container quay of 1,350 feet will be expanded. DP World’s strategies similarly contain the advancement of an industrial zone successive to the port and the Blaise Diagne International Airport, developing an integrated multimodal transportation, logistics, and industrial hub.

    Presently, Senegal banks on the port of Dakar for its imports and exports. The port moreover serves as a gateway to neighboring landlocked nations like Mali, which depends on Dakar for two-thirds of its trade.

    President Sall who is doubling as the Chairman of the African Union, Africa is grasping with huge infrastructure financing obstacles, a challenge that is aggravated by highinterest rates committed due to intuitions of the landmass as a high-risk destination.

     

     

    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

    About the Author
    New Africa Business News Staff Correspondent
    • google-share
    Previous Story

    A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development

    Next Story

    …The Windfall of Africa Continental Free Trade Area (AfCFTA) the Administration of Tanzania has Designate Strategies in Accelerating Stronger Business Bonds within

    Leave a Reply Cancel reply

    *
    *

    Members Area

    • Members Log In

    RECENT

    POPULAR

    COMMENTS

    $12 Billion Environment Financing Center - The Green Climate Fund permitted to earn African Equity Financial Investment to overcome the Impact of a Warming World

    Posted On 24 Mar 2023

    President Samia Suluhu Hassan of Tanzania Inaugurated an Agriculture Program hoped at Committing the Youth to Large-Scale Agribusiness

    Posted On 23 Mar 2023

    New Era for Equatorial Guinea and Cameroon, Signing  Bilateral Agreement through Cross-Border Cooperation

    Posted On 21 Mar 2023

    New Africa Business News, Africa Leader of the Year 2022-2023 Goes to Ethiopia's Prime Minister Dr. Abiy Ahmed

    Posted On 24 Feb 2023

    New Africa Business News 2022-2023 Person of The Year Goes to Professor Patrick Loch Otieno Lumumba (PLO Lumumba)

    Posted On 05 Jan 2023

    New Africa Business News, Person of the Year 2021-2022, Goes to African Women

    Posted On 29 Jan 2022

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Facebook

    Latest Posts

    $12 Billion Environment Financing Center - The Green Climate Fund permitted to earn African Equity Financial Investment to overcome the Impact of a Warming World

    President Samia Suluhu Hassan of Tanzania Inaugurated an Agriculture Program hoped at Committing the Youth to Large-Scale Agribusiness

    New Era for Equatorial Guinea and Cameroon, Signing  Bilateral Agreement through Cross-Border Cooperation

    Recent Posts

    • $12 Billion Environment Financing Center – The Green Climate Fund permitted to earn African Equity Financial Investment to overcome the Impact of a Warming World
    • President Samia Suluhu Hassan of Tanzania Inaugurated an Agriculture Program hoped at Committing the Youth to Large-Scale Agribusiness
    • New Era for Equatorial Guinea and Cameroon, Signing  Bilateral Agreement through Cross-Border Cooperation
    • South Africa and Stellantis has Greeted a Pact to Develop a Unique Automobile Manufacturing Facility
    • Dr. Akinwumi Adesina AfDB’s President maintains it is time to Develop Youth-Based Wealth to Bolster a Better Comprehensive Nigerian Economy

    Categories

    • Business
    • Education
    • Entertainment
    • Featured
    • Government
    • Immigrants
    • Investment
    • News
    • NGO
    • Obituary
    • Opinion
    • Public Notice
    • Sport
    • Video

    Tag Cloud

    african economy business africa

    Contact Form

    1. Name *
      * Please enter your name
    2. Email *
      * Please enter a valid email address
    3. Message *
      * Please enter message
    Copyright 2019 New Africa Business News, Inc. A Global International Company, Inc. All Rights Reserved.