Ogun, DP World sign $7bn port investment deal
The Ogun State Government and DP World have signed a deal for a $7bn investment to develop the Gateway Deep Sea Port and a special economic zone. Read More: https://punchng.com/ogun-dp-world-sign-7bn-port-investment-deal/
The Governor of Ogun State, Dapo Abiodun, and DP World MEA FZE have signed agreements to develop the Gateway Deep Sea Port and the Ogun State Blue Marine Special Economic Zone. The projects are expected to attract over $7 billion in initial investment and create more than 50,000 direct jobs. President Bola Tinubu, the Minister of Marine and Blue Economy, and the Managing Director of the Nigerian Ports Authority witnessed the signing in Paris, France.
The Gateway Deep Sea Port, with a four-kilometer berth and 18-meter draft, will address port congestion and reduce costs for importers and exporters. The Blue Marine Special Economic Zone, spanning 10,000 hectares, will support manufacturing, processing, and export-oriented industries. The projects represent an initial investment of over $7 billion and are projected to generate over 50,000 direct jobs.
The development aims to ease trade bottlenecks, strengthen logistics, and expand Nigeria's manufacturing and export capacity.
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- Ogun, DP World sign $7bn port investment deal punchng.com
