Logistics

DP World breaks ground at $1.1bn Ndayane deep-water port in Senegal

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On Monday this week, Senegalese President Macky Sall laid the foundation stone for the new $1.13bn Ndayane deep-water port, 50km south of Dakar. The project is led by a joint-venture of DP World of Dubai and the Dakar Port Authority and represents so far the biggest private investment in Senegal.

According to DP World, the first phase will include 840 metres of quay and a 5 km marine channel designed to handle 366-metre vessels, with a second phase adding 410 metres of container quay and further dredging to handle 400-metre vessels.

The Dubai-based logistics giant will notably develop and operate the 300-hectare container terminal, as well as finance and design the land and maritime infrastructure for the port.

In October last year, the UK’s development finance institution and impact investor CDC Group (CDC) announced a partnership with DP World to invest into Africa’s trade and logistics infrastructure. Under this long-term partnership, DP World had notably committed to invest a further $1bn into existing ports in Dakar (Senegal), Sokhna (Egypt) and Berbera (Somaliland).

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OPEC+ maintains decision to increase output by 400,000 bopd in February

Without much surprise, the Organisation of Petroleum Exporting Countries (OPEC) and its alliance known as OPEC+ has decided to stick to its plan to add 400,000 barrels of oil per day (bopd) next month. The group has raised its output target each month since August 2021 by 400,000 bopd. The decision to stick to the production adjustment plan follows OPEC’s expectations that the Omicron variant of the coronavirus will have a short-lived impact on global energy demand. Under such monthly adjustments, OPEC is steadily unwinding its record production cuts of 10 million bopd that were imposed in 2020 to save oil prices. Source: OPEC The next meeting of OPEC+ is scheduled to be held on February 2, when the group is expected to decide production levels for March.

Tanzania selects Turkish contractor to extend its standard gauge railway

Earlier this week, Tanzania signed a $1.9bn contract with Turkish contractor Yapi Merkezi to build a 368km section of standard gauge railway. The project is part of a 1,219km SGR line that Tanzania is building to support regional trade in East Africa by linking Dar es Salaam with the port city of Mwanza on the shores of Lake Victoria. Two similar lines are already nearing completion. Under the contract signed this week, Yapi Merkezi will execute the section linking the towns of Makutopora and Tabora in Tanzania’s Masanja Kadogosa region.