AD Ports Group signed a 30-year concession agreement with the government of the Republic of the Congo for managing and operating the multipurpose New East Mole Terminal in Pointe-Noire.
The agreement follows the previous Head of Terms agreement signed between the two parties in March 2023.
Under the terms of the new agreement, AD Ports will have the exclusive right to invest in the development, operation, management and maintenance of the “New East Mole Port” which will handle containers, general cargo, break-bulk and other types of cargo.
Additionally, AD Ports will have the right to further extend the agreement for another 20 years on the same terms and conditions.
AD Ports has announced it will invest more than US$500 million over the concession duration, with around US$220 million allocated for the first phase, which is expected to be completed over the next 30 months.
Also, AD Ports noted it will provide the terminal with digital services and technology solutions to enhance its efficiency.
Capt. Mohamed Juma Al Shamisi, managing director and Group CEO of AD Ports Group, commented, “This agreement represents a significant milestone in our company’s growth strategy. By expanding our operations and presence in Congo, we are not only strengthening our position in the region, but also tapping into a new market with immense potential.”
He added, “We anticipate boosting trade and commerce between our countries and opening new trade routes, creating new employment opportunities, and contributing to the overall development of Congo.”