Bosaso (PP News Desk) — A group of business leaders in Puntland has offered to finance the renovation of the Port of Bosaso. Business leaders have formed a company called Wadajir, which they publicized following a meeting with Puntland State council of ministers who were briefed on constraints faced by importers and other businesses who use the Port of Bosaso.
Wadajir plans to expand and renovate the Port of Bosaso. In 2017 Puntland State government sighed an agreement with DP World, which runs the port on a thirty-year concession. Last month Puntland traditional leaders ruled that DP World had violated the terms of the concession.
An expert on port management told Puntland Post that funds raised from companies to expand Port of Bosaaso will unnecessarily dilute the public ownership structure of the port. “Wadajir can compete for the management of the port, but committing its funds to the expansion of the Port of Bosaso weakens the civic qualities that national infrastructures retain” the port management expert said.
Neither Puntland State government nor DP World has commented on the business leaders’ initiative for the Port of Bosaso.
© Puntland Post, 2022
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