Galkacyo (WDN)– Puntland President Said Abdullahi Deni has officially confirmed that Garacad Port will be handed over to a United Arab Emirates-based company as part of a major investment deal aimed at expanding regional trade and infrastructure.

“The Garacad Port, which holds strategic economic significance for Puntland, has been under technical negotiations for some time,” Deni said. “The discussions were solely between Wadagsan and the Emirati company. The government stayed out of it. Now, all technical aspects have been finalized, and I expect the agreement to be implemented very soon.”

Speaking during a visit to Bacaadweyne city in Mudug region, President Deni stated that advanced negotiations had been ongoing between Wadagsan Company, a Somali enterprise, and the unnamed UAE firm, with Puntland authorities not directly involved in the talks.

President Deni also announced a related infrastructure initiative—a new highway linking the Garacad Port to the Tuuri-Dibi customs checkpoint in Galdogob district. The road is intended to streamline the movement of goods from the port to neighboring Ethiopia, reinforcing Garacad’s role as a potential trade hub for the Horn of Africa.

The deal is expected to attract further investment into Puntland and may serve as a model for future public-private partnerships in Somalia’s growing port and logistics sector. However, the lack of transparency and government oversight in the deal has already raised concerns among some local stakeholders and opposition figures.

WardheerNews