Djibouti’s port authority is in talks with French shipping company CMA CGM to develop a new $660 million container terminal and hopes to award the concession in July.
The authority’s chairman, Aboubakar Hadi, told Reuters on Tuesday that the Djibouti Ports and Free Zone Authority offered to buy out DP World’s 33 percent stake in another project – the Doraleh Container Terminal – after the state-owned port operator from Dubai threatened arbitration.
Agency Report