Somalilandsun-DP World, the United Arab Emirates-based maritime conglomerate, has announced that Ethiopia will become a shareholder of the Port of Berbera in Somaliland, a crucial site for Middle Eastern trade, strategically located along the oil route.
This announcement follows an agreement that was signed by DP World and the Somaliland Port Authority in Dubai on March 1, 2018.
DP World will hold a 51% stake in the project, Somaliland 30% and Ethiopia the remaining 19%.
The government of Ethiopia will also invest in infrastructure to develop the Berbera Corridor as a trade gateway for the inland country of Somaliland, which is one of the fastest growing nations in the world.
