TANZANIA – DP World, a global ports operator, has signed a 30-year concession agreement to operate and modernize the Dar es Salaam port in Tanzania, as it seeks to expand its footprint in Africa and boost supply chain.
Signed with the country’s ports authority, the deal aims to further improve operations at the multi-purpose facility and elevate transportation and logistics services in the African country, according to a statement.
This agreement will also facilitate the connection of Tanzania and the surrounding region to global markets.
DP World Group Chairman and CEO, Sultan Ahmed bin Sulayem, said, “We are honored to partner with the Government of Tanzania to revitalize the port of Dar es Salaam.
“This is in line with Tanzania’s strategic development plans and is a testament to the visionary leadership of H.E. Samia Suluhu Hassan.
“The development will deliver trade opportunities for the region, connecting East Africa and the broader sub-Saharan Africa with global markets. This will drive economic growth, job creation, enhance access to products and services, and create value for all our stakeholders.”
Through the first phase of a multi-stage plan, DP World will initially invest more than USD 250 million to revamp the port. The investment volume may rise to USD 1 billion later during the concession period.
In return, this funding is expected to have a positive impact on Tanzania’s socio-economic development, including job creation and improved access to products and services, among other benefits.
The renovation of the port is good news for the fresh produce sector, which is seeking new markets for its continuously expanding production.
According to Verified Market Research, the Fruits and Vegetables Market in Tanzania was valued at USD 1.8 billion in 2020 and is projected to reach USD 2.8 billion by 2028, with a compound annual growth rate (CAGR) of 6.5% from 2021 to 2028.
The growing demand for derived products, such as fruit juices and jams, and an increase in consumer awareness of healthier alternatives like fruits and vegetables are some of the factors driving market growth.
The Tanzania Fruits and Vegetables Market report provides a comprehensive evaluation of the market. The report provides a thorough analysis of important segments, trends, drivers, restraints, competitive landscape, and factors that significantly influence the market.
In addition to fruits and vegetables, the renovation of the Dar es Salaam port will open up Tanzania’s horticultural products to the world.
