DP World to build and operate first deep-sea port in the Congo

The first phase of the contract, which has an optional 20-year extension for further expansion and development, will involve the construction of a 600m quay and a 25-hectare yard extension with capacity to handle 350,000 TEU and 1.5 million tonnes of general cargo annually.
Construction of the first phase, which is likely to cost about USD 350 million, will start this year and take approximately 24 months. However, the concession covers a potential four-phase development costing more than USD 1 billion, depending on future market demand for port services and other logistics infrastructure. DP World will have a 70% share in the new joint venture company set to develop and run the Port of Banana. The Congolese Government will hold the remaining stake.
At present, Congo has no deep-water port along its 37-kilometre coastline; it only has the small river port of Matadi. This leaves the country heavily reliant on ports in neighbouring countries. The new facility has the potential to connect the country directly to existing international trade lanes.
DP World chairman and CEO, Sultan Ahmed Bin Sulayem, said: " We are delighted to extend our African footprint further with a major investment in the Democratic Republic of the Congo, which is Africa’s third-most populous country but has no direct deep-sea port. 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.”