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Firm to Fund Berbera Port

ADDIS ABABA, 15 Oct 2009 (Somalilandpress) – French company Bollore Africa Logistics is to invest €500-million in the Somali port of Berbera, a crucial lifeline for landlocked Ethiopia, a diplomat said Wednesday.

Berbera, less than 300 kilometres east of the former French colony of Djibouti, faces Yemen on the Gulf of Aden and is the economic capital of Somaliland, a breakaway state more stable than the rest of Somalia.

“Bollore is about to invest €500-million in Berbera port to improve the port and create a new corridor to the hinterland. Ethiopia is very excited about that,” a French diplomat based in Addis Ababa said.

“The project is not completely finalised, but Bollore has a huge presence in West Africa and is interested in East Africa,” the diplomat said on condition of anonymity.

The company is part of a group owned by Vincent Bollore, a leader in West Africa’s ports sector and close friend of French President Nicolas Sarkozy.

Somalia has the longest coastline on the continent and forms the “horn” of Africa, which juts out into the Indian Ocean and Gulf of Aden and commands access to some of the world’s busiest maritime trade routes.

Ethiopia has had good relations with the self-proclaimed government of Somaliland and is heavily reliant on the port of Berbera for supplies.

The Bollore group confirmed to AFP in Paris it was interested in the project but did not elaborate further.

“We have not made an offer yet and no amount has been agreed,” a spokesperson said.

Source: Money Biz

Published by: Qalinle Hussein

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91284 CommentsFirm+to+Fund+Berbera+Port2009-10-15+09%3A02%3A55Qalinle+Hussein on "Firm to Fund Berbera Port"

Omer Hussein Dualeh on Thu, 15th Oct 2009 10:35 am

It's a good news if our government handles properly, and brings into fold those Somalilands who knows how this kind of project is put into the benefit of the country and its people. We should not allow those ministers that we have to handle this. Word is already out that, due to ignorance of our administration, we end up with corruption, if this project is left with the current government to handle. We don't want those who accustomed to get 10% of the running agreements to get involved. It's the Parliament responsibility to watch what is happening here, and they should get involved with this Project if it comes through. This is not an easy issue.

There is at least one President in this world who is famous as Mr. 10% and we know we have such people out there.

I hope it comes through and handles wisely.

Sincerely,

Omer Boqoljireh

H. M. Obsiye on Thu, 15th Oct 2009 8:36 pm

I hope this is not another false hope for Somaliland people.

Gobaad on Fri, 16th Oct 2009 12:05 am

The port of Berbera is the economic lifelines of our country and could create huge income for our country. With good management of the port, a good marketing strategic for our livestocks, and the income tax (cashuuraha) the government collects from the public should be enough for us to be independent from foreign hand-out. But because of mismanagement and corrupt of the current government we have problems that siphoning off the life of our economy.

Jubba on Sun, 18th Oct 2009 5:10 am

The port of Berbera is rather a curse than an asset to Somaliland because as many of us are already aware the authorities there do not want the port to be developed and to be used nationally forget about neighbouring countries and once these thugs see foreign investment they would want to hold on to it more than ever. They already abusing the port's little income and as a result its now lagging in competition from the other ports in the region such as Djibouti and even Bosaso.

I think they will fight over it once they see this kind of money.

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Firm to Fund Berbera Port

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