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French company Bollore Africa Logistics will invest US$677mn in the Somaliland port of Berbera, a lifeline for the landlocked Ethiopia
Berbera, less than 300km east of the former French colony of Djibouti, faces Yemen on the Gulf of Aden and is the economic capital of Somaliland.
A French diplomat based in Addis Ababa told news web portal Somalilandglobe.com, “Bollore is about to invest US$677mn in Berbera port to improve the port and create a new corridor to the hinterland. Ethiopia is very excited about this development.
“The project is not completely finalised, but Bollore has a huge presence in West Africa and is interested in East Africa.”
The company is part of a group owned by Vincent Bollore, a leader in West Africa’s ports sector.