Terminal operator DP World will build a deep-water, multi-purpose port in the Democratic Republic of the Congo (DRC) after winning a 30-year concession.
The concession, which can be extended by a further 20 years, is to manage and develop a greenfield site in Banana with a capacity of 350,000 teu and 1.5m tonnes of general cargo after the first phase of development.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, said: “Investment in this deep-water port will have a major impact on the country’s trade with significant cost and time savings, attracting more direct calls from larger vessels from Asia and Europe, and ultimately acting as a catalyst for the growth of the country and the region’s economy.”
This first phase is expected to cost around US$350m and includes a 600 m long quay and 25 ha of yard, with construction to begin in 2018 and take around two years to complete.
DP World will hold a 70% stake in the Port of Banana, the first deep-sea port in DRC, with the national government holding the remaining 30%.
The total cost of the project, which includes industrial and logistics zones, is expected to exceed US$1bn.
The DRC’s coastline is online 37 km long, and the only facility currently available for container vessels is the riverine port of Matadi.