Home English News Dry Port operations delay shatters foreign investor’s confidence in Somalia.

Dry Port operations delay shatters foreign investor’s confidence in Somalia.

Dry Port known as ICD (Inland Container Depot) intended to use for Imports and Exports is established in Somali Capital Mogadishu by Simatech International FZE, which laid the foundation stone in 2016 in order to provide the additional services for Mogadishu Sea Port.

The project was funded by Simatech International FZE and was officially invited by top officials from FGS and endorsed by Albayrak, to facilitate the provision of services to the Somali people and the business community.

The project was implemented after it signed by the ministry of Ports and Marine Transport, representing FGS.

The agreement was signed after completion of tendering process by Minister of Finance. After agreement Dry Port operations was postponed by agencies of Somali government.

Dry port is equipped with modern equipment and infrastructure which automates the services more efficiently as compared to manual labor.

The company also pledged to invest in Somalia in other investments, mainly in the infrastructure after the establishment of Dry port.

No responsibility has been taken by FGS in the implementation of this kind of heavy investment economic projects in the interest of public.

Some of the global community has expressed concern over the delay of this modern portfolio, claiming that it would have led to a number of investment projects that many companies have been trying to do with Simatech, a company that wants to build this port. Unsuccessfulimplementation of this legal contract is likely to result in poor economic consequences. Simatech has a lot of business in the seafront industry and has a lot of advantages over many of the global logistics services. The inauguration of Dry port was covered by international media and very much appraised by federal government of Somalia.The company has already spent about $ 10 million and announced to invest further after successful implementation of this project.