Senegal President Macky Sall on Monday laid the foundation stone for the construction of a $1.13 billion deep-water port being developed by Dubai's state-owned port operator DP World at Ndayane, around 50 km (31 miles) south of the capital Dakar.
DP World Dakar, a joint venture between the Dubai-based logistics provider and the Port Authority of Dakar (PAD), is the biggest private investment in the West African country, Sall said.
"We are ready for the structural transformation of our economy with this mega project," Sall said.
DP World has said the first phase will include 840 metres of quay and a 5 km marine channel designed to handle 366-metre vessels, with a second phase adding 410 metres of container quay and further dredging to handle 400-metre vessels.
DP World chairman Sultan Ahmed bin Sulayem said his company would develop and operate the 300-hectare container terminal, as well as finance and design the land and maritime infrastructure.
"It represents a brighter future as this new port will bring greater economic growth, prosperity, and jobs," Sulayem said.
(Reporting by Diadie Ba; Writing by Hereward Holland)