Dubai’s DP World has signed an MoU with Namibia’s Nara Namib Free Economic Industrial Zone to develop a free economic zone for industry and logistics in Nambia’s port city of Walvis Bay.
The global ports operator stated that the business park covers an area of 50 hectares and could eventually be spread across 1,500 hectares. The facility at Walvis Bay will provide businesses with development-ready land for industrial and logistics operations, pre-built warehouses and office accommodation.
Suhail Al Banna, DP World’s CEO and Managing Director for the Middle East and Africa, said, “We believe the country has great potential to expand its role as a hub for the region and the Government’s recent legislation on free zones and its efforts to facilitate business provides an attractive environment for investment.”
As part of the deal, DP World plans to bring to the project its extensive expertise and track record in establishing and operating some of the world’s leading ports, logistical parks and free zones integrated with railways and trucking.
MOST READ
INVESTMENT
SABB seeks to boost corporate lendingINVESTMENT
HSBC considering exiting from TurkeyINVESTMENT
Abu Dhabi’s Group 42 acquires BayanatINVESTMENT
Amanat considers stake in VPS HealthcareINVESTMENT
UBS investment bank job cuts reach Europe
CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.
Loading More post
