#Djibouti opens new port as part of $7 bln/year free-trade zone plan | Reuters
▻http://af.reuters.com/article/investingNews/idAFKBN18K2I2-OZABS
Djibouti has formally opened one of four new ports designed to cement the tiny Horn of Africa nation’s position as a continental hub, a statement from the ports authority said on Wednesday.
#Doraleh Multipurpose Port has been substantially upgraded as part of a Chinese-backed plan to establish Africa’s largest free-trade zone that can handle $7 billion of goods a year.
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Tiny Djibouti, with a population of 876,000, has long punched above its weight. It hosts large U.S. and French naval bases; China is also building a naval base. Djibouti also handles roughly 95 percent of the inbound trade for neighbouring Ethiopia, population 99 million.
Doraleh’s bulk terminal can handle 2 million tons of cargo a year, and offers space to store 100,000 tons of fertilizer, 100,000 tons of grain, and warehouses for other goods.
The break bulk terminal can handle 6 million tons of cargo annually, the statement said, and there are 40,000 slots for vehicles at the RO-RO terminal.
Two other ports designed to export salt and potash will open next month.
