Global ports operator DP World signed an agreement with Senegal to develop its Ndayane deep-water port, marking the Dubai-based company's biggest port investment in Africa to date.
DP World Dakar will invest a total of $1.1 billion over two phases of the project, which is expected to boost Dakar's position as a major logistics hub and gateway to west and north-west Africa, it said in a statement on Wednesday.
"This will be DP World's biggest port investment in Africa to date, and is a testament to our commitment to Senegal and belief in its potential for further economic growth," Sultan bin Sulayem, DP World's chairman and chief executive, said. "The new port will create jobs, attract new foreign direct investment to the country and enable new trading opportunities that bring about economic diversification."
DP World has remained bullish on growth prospects in Africa, where it has existing investments in Egypt, Algeria, Djibouti, Rwanda, Somaliland, Mozambique and Senegal, according to its website. The ports operator has shown increasing interest in the continent, despite a legal dispute over its operations in Djibouti.
The Dubai-based company, which operates ports from Peru to Australia, will develop the new port at Ndayane, located about 50 kilometers from the existing Port of Dakar and near the Blaise Diagne international airport.
DP World Dakar SA, the local joint venture company between DP World and PAD, will develop and operate a new 300-hectare container terminal at the Port of Dakar. It will also finance, design and develop the land and maritime infrastructure of the new 600-hectare port.
DP World Dakar will invest $837 million in the first phase of this project, making it the single biggest private sector investment in Senegal, according to the company. It is expected to invest a further $290m during the second phase.
The first phase will include a new container terminal with 840 meters of quay and a new 5km marine channel designed to handle 366m vessels and capable of handling the largest container vessels in the world, according to the statement.
The second phase will see 410m of additional container quay and a further dredging of the marine channel to handle 400m vessels.
The first phase of the Ndayane container terminal will be operated alongside the existing DP World Dakar container terminal.
The Ndayane container terminal will eventually have more than 3km of quay and 300 hectares for the container yard. This will enable the existing Port of Dakar to be redeveloped into a mixed use residential and commercial waterfront and cruise terminal, according to the statement.
DP World is also planning to develop a special economic zone next to the Port of Ndayane to attract more foreign investors looking at the Economic Community of West African States region that includes Senegal, Nigeria, Ghana and Mali. The economic zone will be serviced by the port and airport.
In February, DP World said it was close to finalising agreements on the construction of a new port and economic zone in Senegal.
The port development is part of Senegal's wider Plan Senegal Emergent, a new development model guiding its economic and social policies over the medium and long-term, according to the presidency website.
The new policy framework of President Macky Sall's government is aimed at getting Senegal onto the road to development by 2035.
"The development of the new port at Ndayane will provide a strong engine of growth for the next phase of the Plan Senegal Emergent”, Aboubacar Sedikh Beye, Director General of the Port Authority of Dakar, said.
COMPANY%20PROFILE
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Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
UAE currency: the story behind the money in your pockets
COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
Global state-owned investor ranking by size
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China
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UAE
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Japan
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Norway
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Canada
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Gothia Cup 2025
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1,942 teams
116 pitches
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- DLD registration fee can be paid through banks or credit cards at zero interest rates
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
Killing of Qassem Suleimani
Dirham Stretcher tips for having a baby in the UAE
Selma Abdelhamid, the group's moderator, offers her guide to guide the cost of having a young family:
• Buy second hand stuff
They grow so fast. Don't get a second hand car seat though, unless you 100 per cent know it's not expired and hasn't been in an accident.
• Get a health card and vaccinate your child for free at government health centres
Ms Ma says she discovered this after spending thousands on vaccinations at private clinics.
• Join mum and baby coffee mornings provided by clinics, babysitting companies or nurseries.
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Take the food with you in reusable pouches or jars. You'll save a fortune and you'll know exactly what you're feeding your child.
MATCH INFO
Uefa Champions League, semi-final result:
Liverpool 4-0 Barcelona
Liverpool win 4-3 on aggregate
Champions Legaue final: June 1, Madrid
MATCH INFO
Uefa Champions League, semi-final result:
Liverpool 4-0 Barcelona
Liverpool win 4-3 on aggregate
Champions Legaue final: June 1, Madrid
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Al Wasl 1 (Caio Canedo 90 1')
Al Ain 2 (Ismail Ahmed 3', Marcus Berg 50')
Red cards: Ismail Ahmed (Al Ain) 77'
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Employment lawyer Meriel Schindler of Withers Worldwide shares her tips on achieving equal pay
Do your homework
Make sure that you are being offered a fair salary. There is lots of industry data available, and you can always talk to people who have come out of the organisation. Where I see people coming a cropper is where they haven’t done their homework.
Don’t be afraid to negotiate
It’s quite standard to negotiate if you think an offer is on the low side. The job is unlikely to be withdrawn if you ask for money, and if that did happen I’d question whether you want to work for an employer who is so hypersensitive.
Know your worth
Women tend to be a bit more reticent to talk about their achievements. In my experience they need to have more confidence in their own abilities – men will big up what they’ve done to get a pay rise, and to compete women need to turn up the volume.
Work together
If you suspect men in your organisation are being paid more, look your boss in the eye and say, “I want you to assure me that I’m paid equivalent to my peers”. If you’re not getting a straight answer, talk to your peer group and consider taking direct action to fix inequality.
Sholto Byrnes on Myanmar politics
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Day 2 at the Gabba
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BUNDESLIGA FIXTURES
Friday (UAE kick-off times)
Borussia Dortmund v Paderborn (11.30pm)
Saturday
Bayer Leverkusen v SC Freiburg (6.30pm)
Werder Bremen v Schalke (6.30pm)
Union Berlin v Borussia Monchengladbach (6.30pm)
Eintracht Frankfurt v Wolfsburg (6.30pm)
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Green ambitions
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World Cup 2022 qualifier
UAE v Indonesia, Thursday, 8pm
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