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.