Galmudug State has signed an agreement with a United Kingdom-based consortium for the construction of Hobyo Port.
Abdisabir Nur Shurie, the Galmudug Minister of Ports and Fisheries, confirmed the news on November 12.
He said that the deal was signed in London with representatives from Oriental Terminal.
Oriental Terminal is a UK-consortium comprising investors from Turkey, Great Britain, and Somalia.
Shurie stated that representatives from the consortium would arrive in Galmudug soon to lay the groundwork for the port’s construction and operation.
He also mentioned that once complete, the port would have a significant impact on the socio-economic aspects of the locals.
“Millions of people in Galmudug and the surrounding regions are bound to feel the full economic impact of the port’s construction and operation,” Shurie stated.
With the announcement, Galmudug seems to have cancelled reports indicating that a similar agreement with Qatar was in place.