Galmudug state signed a deal with an international consortium for the construction of Hobyo Port on November 3.
The semiautonomous state signed the deal with Oriental Company.
Oriental Company is a consortium comprising companies from Britain, Turkey, and Somalia.
Abdisabir Nur Shurie, Galmudug’s Minister of Ports and Fisheries, signed the agreement on behalf of the state.
Indian Ocean Holding Ltd, Hobyo Investment Ltd, and Crom Ltd represented Oriental Companies.
The companies signed the deal with Galmudug after a series of meetings between the two sides in the last few months.
The agreement also touches on the issues of funding and operation of Hobyo Port.
