Abu Dhabi-based logistics multinational, AD Ports, has entered into a 30-year concession agreement with the government of the Republic of the Congo to manage and operate the multipurpose New East Mole Terminal in Pointe-Noire.
The agreement was signed by Mohamed Juma Al Shamisi, the managing director and CEO of AD Ports; and two Congolese government officials – Denis-Christel Sassou Nguesso, Minister of International Cooperation and Promotion of Public-Private Partnership; and Honore Sayi, the Minister of Transport, Civil Aviation, and Merchant Navy.
The agreement with the Emirati ports operator follows a previous head-of-terms agreement signed by both parties in March.
AD Ports has obtained exclusive rights to invest in the development, operation, management, and maintenance of New East Mole, which will handle various types of cargo including containers, general cargo, break-bulk and ore. The agreement is valid for 30 years from the signing date, with the option to extend it for 20 years under the same terms and conditions.
AD Ports has committed to investing over $500 million during the concession period, with approximately $220 million earmarked for the initial phase, expected to be completed within the next 30 months. Additionally, throughout the agreement’s duration, AD Ports will provide digital services and technology solutions to enhance the facility’s efficiency. This includes implementing a single-window system, software development, digital architecture, business analytics, digital operations support, and digital transformation.
Al Shamisi expressed optimism about the agreement, stating that it would boost trade and commerce between the two countries, open new trade routes, generate employment opportunities, and contribute to the overall development of the Congo.
He highlighted the significance of New East Mole as one of the most flourishing ports along the central west coast of Africa.
Pointe Noire serves as the primary commercial hub of the Congo, and its port plays a crucial role in the nation’s economy and regional development.
In 2021, the United Arab Emirates (UAE) exported goods worth $137 million to the Republic of the Congo, primarily cars valued at $35 million. Simultaneously, the Congo exported goods worth $1.75 billion to the UAE in 2021, with refined copper accounting for $1.6 billion and gold for $70.6 million. SOURCE: Splash 247.