• 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
    To Our Dedicated Readers…
    Experts Divulged African Nations should brace up for Digital Technology in the Education Sector to Expedite Africa’s Financial Growth and Quality Education
    The East Africa Device Assembly Kenya (EADAK) Sold 360,000 devices being Inaugurated on its Blast-off in October 2023
    ….as it strives to Exploit its Supplies of Fossil Fuels £19 Billion Gas Pipeline would pass…13 Countries
    In a Bid to Accelerate Green Energy Economy, Kenya Reveals a 10-year Implementation Plan
    African Leaders Lift-off African School of Governance…
    Zimbabwe in Alacrity to Participate in the Forthcoming Minerals Africa Summit in Cape Town South Africa
    Rwanda’s MPs in the Lower House started Nationwide Assessment on progress of the Agricultural Outreach season
    $2.8 Million has been Vitally signed by Grid Africa as an Equity Investment from Rifuwo Energy Partners
    The Elected African Table Tennis Federation Executive Council Agreed on a Memorandum of Understanding with Ethiopian Airlines

    $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

    To Our Dedicated Readers...

    Posted On 04 Nov 2024

    Experts Divulged African Nations should brace up for Digital Technology in the Education Sector to Expedite Africa’s Financial Growth and Quality Education

    Posted On 04 Nov 2024

    The East Africa Device Assembly Kenya (EADAK) Sold 360,000 devices being Inaugurated on its Blast-off in October 2023

    Posted On 04 Nov 2024

    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

    Africa Leader of the Year 2023-2024, Rwanda's President Paul Kagame

    Posted On 21 May 2024

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

    Posted On 05 Jan 2023

    Thanks for reading, Africa’s fastest...

    Posted On 15 Feb 2024

    Peace making leader. Congrat Paul...

    Posted On 15 Feb 2024

    Thanks for reading, Africa’s fastest...

    Posted On 15 Feb 2024

    Facebook

    Latest Posts

    To Our Dedicated Readers...

    Experts Divulged African Nations should brace up for Digital Technology in the Education Sector to Expedite Africa’s Financial Growth and Quality Education

    The East Africa Device Assembly Kenya (EADAK) Sold 360,000 devices being Inaugurated on its Blast-off in October 2023

    Recent Posts

    • To Our Dedicated Readers…
    • Experts Divulged African Nations should brace up for Digital Technology in the Education Sector to Expedite Africa’s Financial Growth and Quality Education
    • The East Africa Device Assembly Kenya (EADAK) Sold 360,000 devices being Inaugurated on its Blast-off in October 2023
    • ….as it strives to Exploit its Supplies of Fossil Fuels £19 Billion Gas Pipeline would pass…13 Countries
    • In a Bid to Accelerate Green Energy Economy, Kenya Reveals a 10-year Implementation Plan

    Categories

    • Business
    • Education
    • Entertainment
    • Featured
    • Government
    • Immigrants
    • Investment
    • News
    • Obituary
    • Sport

    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.