Somalia is poised to embark on a major infrastructure project in the coastal town of Hobyo, with the development of a $70 million port set to begin this December. The new port, located about 435 miles northeast of Mogadishu, is expected to be operational within three years, a key milestone in the country’s efforts to enhance its maritime trade.
Metag Holding, a Turkish-based firm headquartered in Ankara, will partner with Hobyo Investment Co. to spearhead the construction. According to Mohammed Ali Warsame, a company representative, the initial phase of the project will see an allocation of $70 million. The new port is anticipated to significantly boost economic activities in the region, providing Somalia with a strategic hub for imports and exports along the Horn of Africa.
The development reflects Somalia’s broader efforts to revitalize its infrastructure, essential for the nation’s economic recovery and stability. The port in Hobyo is expected to serve as a vital gateway for trade with key partners in the Middle East and beyond.
As construction gears up, the port project will be closely watched for its potential to stimulate both regional development and Somalia’s international trade ambitions.
