Dubai’s DP World has signed an MoU with Namibia’s Nara Namib Free Economic Industrial Zone to develop a free economic zone for industry and logistics in Nambia’s port city of Walvis Bay.
The global ports operator stated that the business park covers an area of 50 hectares and could eventually be spread across 1,500 hectares. The facility at Walvis Bay will provide businesses with development-ready land for industrial and logistics operations, pre-built warehouses and office accommodation.
Suhail Al Banna, DP World’s CEO and Managing Director for the Middle East and Africa, said, “We believe the country has great potential to expand its role as a hub for the region and the Government’s recent legislation on free zones and its efforts to facilitate business provides an attractive environment for investment.”
As part of the deal, DP World plans to bring to the project its extensive expertise and track record in establishing and operating some of the world’s leading ports, logistical parks and free zones integrated with railways and trucking.