Bosaso (PP News Desk) — Puntland State President Said Abdullahi Deni today publicized “successful renegotiation of DP World concession to run Bosaso Port”. Speaking to regional civil servants, traditional leaders and other notables at Waaciye village in Bari.
President Deni said that “our argument was that P&O had failed to successfully manage Bosaso Port. As a result of this failure the concession will have to be renegotiated. DP World was not directly involved in the management of the port. A joint venture between DP World and Puntland State Government has been formed”.
Under the new arrangement, Puntland State owns 25% of the stake. Under the previous concession Puntland did not own any stake” said President Deni whose remarks will pile more pressure on his predecessor Dr Abdiweli Mohamed Ali whom he accused of selling Puntland short.
DP World acquired P&O nearly two years after Puntland State granted P&O a controversial thirty-year concession challenged by the Federal Government. In 2018 the Somali Federal Parliament banned DP World from operating in Somalia. The United Aran Emirates government owns DP World, which was delisted from Nasdaq in 2020.
President Deni said that the new joint venture would be launched soon. He expects that a new Somali federal dispensation could waive the ban on DP World.
© Puntland Post, 2022.
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