A Turkish Company handed over to administer Mogadishu Port

In a ceremony held at the premises of the Mogadishu Port, Somalia’s Minister of land and Sea Transport , Yusuf Moalim Amin Badiyow declared that Somali Government handed over the adnimistration of Mogadishu Port to a Turkish Company known as Albairak.

“The company is to implement new modern buildings in Port “ , said Badiyow.

“The income revenue of the port will divided between the company and Somali Government and 55% of income will be allocated for the government as well as 45% will be given to the company “ added the minister.

Economists say that it is not clear how long this agreement will take as it reveals sharing income revenue and short term renovation of the port.