Djibouti Opens New Port as Part of $7 bln/year Free-Trade Zone Plan

dj-mapDjibouti has formally opened one of four new ports designed to cement the tiny Horn of Africa nation’s position as a continental hub, a statement from the ports authority said on Wednesday.

Doraleh Multipurpose Port has been substantially upgraded as part of a Chinese-backed plan to establish Africa’s largest free-trade zone that can handle $7 billion of goods a year.

“The port of Djibouti is a gateway to one of the fastest growing regions of the world with 30,000 ships transiting the port each year,” the statement said.

“Located on two of the three busiest shipping routes in the world, the port provides a strategic platform for maritime activity connecting Asia, Africa, and Europe.”

Tiny Djibouti, with a population of 876,000, has long punched above its weight. It hosts large U.S. and French naval bases; China is also building a naval base. Djibouti also handles roughly 95 percent of the inbound trade for neighbouring Ethiopia, population 99 million.

Doraleh’s bulk terminal can handle 2 million tons of cargo a year, and offers space to store 100,000 tons of fertilizer, 100,000 tons of grain, and warehouses for other goods.

The break bulk terminal can handle 6 million tons of cargo annually, the statement said, and there are 40,000 slots for vehicles at the RO-RO terminal.

Two other ports designed to export salt and potash will open next month.

Djibouti mainly handles goods from Asia, representing nearly 60 percent of traffic, the statement said. In 2015, overall traffic to Djibouti increased 20 percent to 5.7 million tonnes.

Originally reported by Reuters.

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Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

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Ethiopia, Djibouti Agree on Blackstone-Backed Fuel Pipeline – Investment Advice by CWIIL Group of Companies

Ethiopia and Djibouti signed an agreement for a $1.55 billion fuel pipeline with developers Mining, Oil & Gas Services and Blackstone Group LP-backed Black Rhino Group.

The two countries in the Horn of Africa signed framework agreements on Tuesday for construction of the 550-kilometer (340-mile) line to transport diesel, gasoline and jet fuel from port access in Djibouti to central Ethiopia, the companies said. Financial close is expected in 2016, with construction scheduled for completion two years later.

Growth in landlocked Ethiopia has surpassed every other sub-Saharan country over the past decade, and the government has boosted spending to expand infrastructure. Fuel is typically delivered by tanker truck.

“The pipeline will increase energy security, aid economic development and reduce harmful emissions,” Black Rhino Chief Executive Officer Brian Herlihy said in the statement. The 50-50 joint venture with MOGS, a unit of Johannesburg-based Royal Bafokeng Holdings, will seek to raise at least $1 billion of senior debt financing.

The project, known as the Horn of Africa Pipeline, includes an import facility and 950,000 barrels of storage capacity in Damerjog, Djibouti, linked to a storage terminal in Awash, Ethiopia. The 20-inch (51-centimeter) line is capable of transporting 240,000 barrels a day of fuel. The concession period after commercial operations start is for as many as 30 years.

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Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Further Queries or to Request a Personal Quote Feel Free to Contact :

Mr. Francis Thomas Matthews,
Deputy Global Director, No. 8
Marketing Research & Development Division,
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Connect : LinkedIn I Twitter I Facebook I Tumblr

For Queries Specific to Africa :
Email: africa@cwiilgroup.comhq@cwiilgroup.eu
Web: www.cwiilgroup.comwww.cwiilgroup.eu

For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
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Email : corpcomm@cwiilgroup.eu
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Office Hours :
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The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.