AD Ports Group has signed 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.
AD Ports Group will have the sole right to invest in the development, operation, administration, and maintenance of the New East Mole Port.
This will handle containers, general cargo, break-bulk, and other types of cargo, under the conditions of the new agreement.
The agreement runs for 30 years from the date of signing and AD Ports Groups shall have the right to further extend it for a further period of 20 years on the same terms and conditions.
AD Ports Group said it will invest more than $500 million over the life of the concession, with around $220 million allocated for phase 1, which is expected to be completed over the next 30 months.
Throughout the term of the agreement, the group will provide the new facility with digital services and technology solutions to enhance its efficiency.
Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “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.”
Al Shamsi added: “In line with the directions of our wise leadership, AD Ports Group continues to expand its operations globally, working with partners to develop world-class port, logistics and maritime facilities in key commercial hubs.”
Denis-Christel Sassou Nguesso, Minister of International Cooperation and Promotion of Public Private Partnership of the Republic of the Congo, said: “We are delighted to partner with AD Ports Group in this exciting new agreement.
“Through this partnership, we will have access to AD Ports Group’s expertise and resources, which will be invaluable in developing our infrastructure and supporting our future plans.
“We are confident that with their support, we can accelerate progress in critical areas such as transportation, trade and logistics,” ensured Nguesso.