Global law firm Clyde & Co has advised the Federal Government of Somalia on its 14-year concession agreement with Turkish contractor Albayrak Group for the rehabilitation and operation of the Port of Mogadishu
Clyde & Co acted as sole legal adviser to the Federal Government of Somalia on all aspects of the matter, including drafting and negotiating the major transaction documents, as well as providing strategic advice on due diligence and regulatory approvals. The mandate was underpinned by the African Legal Support Facility.
The Port of Mogadishu is a strategic port of Somalia and in East Africa. As an initiative to develop and modernise the port, the agreement has covered several aspects. These include:
• The continuation of the port’s exclusive terminal operations and marine services by Albayrak under a revised revenue share arrangement.
• A rehabilitation and investment programme to safeguard the port assets and respond to increasing trade flows.
• The implementation of a terminal operating system to increase efficiency and speed at the port.
Stating the agreement as a significant development for Somalia, Peter Kasanda, managing partner of Clyde & Co Tanzania and Global Board member, added, “We look forward to continuing to support the Federal Government of Somalia in its various projects to improve and modernise its international transportation system."
The Clyde & Co team advising on the project was led by Peter Kasanda, with the support of Catherine Johnston (Legal Director - London), Laura Coates (Senior Associate - London), Imani Mselle (Associate - Dar es Salaam), Amreen Ayub (Associate - Dar es Salaam), Alex Devereux (Associate - London) and Ross Jenkins (Associate - London).
