Wednesday, Sep 28, 2022
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DP World signs agreement for the development of deepsea port in Congo

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DP World has signed an agreement with the Government of the Democratic Republic of the Congo

Dubai-based port operator DP World has signed a collaboration agreement with the Government of the Democratic Republic of the Congo (DRC) for the development of the deepsea port in Banana, media reports said.

The port in Congo, to be developed by DP World, will have a container handling capacity of about 450 000 TEU per year, and a 30-hectare yard to store containers. Initially, DP World will develop an 600m quay with an 18m draft which will have the capacity to handle the largest vessels in operation.

Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World told the media, “This agreement represents the vision of His Excellency, President Tshisekedi, and DP World, to provide the DRC with a modern, world-class port and logistics infrastructure to support the tremendous opportunities for trade in this country. The port will enhance the country’s export capabilities and give it affordable access to international markets.”

Earlier this year, it was reported that DP World is partnering with UK-based state-owned CDC Group to invest $1.7 billion to develop ports in Africa. DP World will invest around $1 billion in facilities at Dakar in Senegal, Ain Sokhna in Egypt, and Berbera.

CDC Group will commit $320 million initially and an additional $400 million over the next few years.

In this regard, Sultan Ahmed Bin Sulayem told the media, “DP World views Africa as a long-term growth market and the opportunity landscape remains significant.

“This partnership with CDC offers us greater flexibility to accelerate and capitalise on these opportunities, and will enable us to increase our investment in ports and logistics infrastructure across Africa.”

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