DP World to develop and manage $1 billion Greenfield port project in Congo.

DP World to develop and manage $1 billion Greenfield port project in Congo.

DP World to develop and manage $1 billion Greenfield port project in Congo.

DP World, the world’s fourth largest port operator, won a 30-year concession to develop a $1 billion deep water port along the Congo’s Atlantic coast. This development is coming as the company forges ahead with plans to expand in Africa despite disputes to its business on the continent.

The Nasdaq-listed global ports operator will manage and develop the Greenfield Port of Banana in a joint venture with the government of Democratic Republic of Congo, with the option of a 20-year extension. DP World will get a 70 per cent stake and the DRC government keeps a 30 per cent holding in the project. Construction will start this year and finish in two years.

The agreement with DP World is a boost of confidence to the Congolese economy battling with reforms and debt. DP World has faced challenges to its African business in recent weeks. In Djibouti, DP World said it will begin arbitration procedures after the government unilaterally announced it will end its contract to run the Doraleh Container Terminal.

Source: The National (25 March 2018)

One thought on “DP World to develop and manage $1 billion Greenfield port project in Congo.”

  1. The agreement with DP World is a boost of confidence to the Congolese economy battling with reforms and debt. DP World has faced challenges to its African business in recent weeks. In Djibouti, DP World said it will begin arbitration procedures after the government unilaterally announced it will end its contract to run the Doraleh Container Terminal.

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