It can be confirmed that China Merchants, a Hong Kong-based firm has acquired a 23.5% share in the Port of Djibouti (PDSA) for US$185 million.
According to China Merchants, the acquisition, the company’s second in as many weeks, will enhance “the group’s positioning in the increasingly affluent African market”.
It can be confirmed that China Merchants, a Hong Kong-based firm has acquired a 23.5% share in the Port of Djibouti (PDSA) for US$185 million.
According to China Merchants, the acquisition, the company’s second in as many weeks, will enhance “the group’s positioning in the increasingly affluent African market”.
PDSA’s assets include a multipurpose cargo facility in Djibouti Port and a 66.7% stake in the Dolareh Container Terminal, which its joint owner DP World calls “the most technologically advanced container terminal in the African continent.”
The Port of Djibouti is vital to the country’s economy due to its strategic location on the Red Sea – one of the busiest shipping lanes in the world. The port is used as a gateway to landlocked-Ethiopia in the south and as a transshipment hub for trade from countries on Africa’s east coast.
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