In 2013, the Port of Mogadishu’s management reportedly reached an agreement with representatives of the Iranian company Simatech Shipping LLC to handle vital operations at the seaport. Under the name Mogadishu Port Container Terminal, the firm is slated to handle all of the port’s technical and operational functions.
In October 2013, the federal Cabinet endorsed an agreement with the Turkish firm Al-Bayrak to manage the Port of Mogadishu for a 20-year period. The deal was secured by the Ministry of Ports and Public Works, and also assigns Al-Bayrak responsibility for rebuilding and modernizing the seaport. In September 2014, the federal government officially delegated management of the Mogadishu Port to Al-Bayrak. The firm’s modernization project will cost $80 million.
