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DP World Ltd. may develop a $1.2 billion deep-water port in the Democratic Republic of Congo, according to documents published by a Senegalese whistleblowing organization. DP World signed an agreement with the Transport Ministry in February 2017 giving the Nasdaq Dubai-listed company exclusive rights to negotiate a contract to build and operate a deep-water harbor at Banana on Congo's Atlantic coast. The entity would be controlled by DP World and a private Congolese company, with the parties owning 60 percent and 40 percent respectively, it said.If the development goes ahead, DP World will invest an estimated $1.04 billion, according to a feasibility study prepared by Ocean Shipping Consultants for DP World and submitted to Congo's Transport Ministry in September.
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