DP World and the Government of the Democratic Republic of the Congo (DRC) have signed a final collaboration agreement for the development of a deep-sea port in Banana, Congo.
The conclusion of the collaboration agreement follows the signing of a term sheet earlier this year between the Dubai-based port operator and the DRC Government, which summarised the agreed amendments to the initial contract signed in 2018.
This now paves the way for DP World to begin construction within 12 months for the DRC’s first deep-sea port, which will be located at Banana along the country’s 37-km coastline on the Atlantic Ocean.
The global port operator estimates that the development of the Banana Port, “which will feature the latest technology and equipment,” will bring significant cost and time savings for the country’s trade, as it will attract more direct calls from larger vessels from Asia and Europe.
It is also expected to benefit the Kongo Central province in terms of economic development, as the port will attract foreign direct investment to the surrounding area, and stimulate local trade and the economy, according to a statement.
DP World will develop an initial 600-meter quay with a draft of 18 meters and a capacity of approximately 450,000 TEU per year, capable of handling the largest vessels in operation, as well as a 300,000m² yard to store containers.
“This port will transform the DRC into a trade hub in the region, and in particular, will benefit Kongo Central, a province which already has a port facility, with the creation of jobs, in addition to generating economic benefits and growth for our country,” commented Félix-Antoine Tshisekedi, President of the DRC.
Additionally, Khalifa Shaheen Almarar, Minister of State of the United Arab Emirates (UAE) stated that the development of infrastructure is a priority for its country aiming to build trade and economic bridges between the UAE and Africa.