The Doraleh Container Terminal project encompasses US$499 million in financing that includes a US$263 million Islamic-compliant financing piece as well as a US$103 million multilateral loan. The Doraleh Container Terminal S.A. (DCT) is a joint venture vehicle between the Djibouti Port Authority and DP World Djibouti. The concession commenced in October 2006.
The DCT has a mandate for land reclamation as well as for the development, financing, design, construction, management, operation, and maintenance of the port. The DCT is located 11 kilometers from the existing Djibouti port facilities and is four times larger.
Construction began in November 2006. Financial close for this project was reached in December 2007 for the Islamic tranche, and in December 2009 for the conventional tranche-through the African Development Bank (AfDB) and PROPARCO.
DP World Djibouti has management control of the project company. Project operations commenced in February 2009 and were organized in two phases: the first phase would have six super cranes and create a capacity of 1.5 million twenty-foot equivalent container units (TEUs); the second phase would seek to double this capacity.