DP World is set to begin the development of a deep-sea port at Banana, the Democratic Republic of Congo, after it agreed amendments to a previous contract with the government.
In a statement, the terminal operator said the amendments are designed to “better support” the government’s vision to develop the country’s trade and logistics sector. The Port will be the DRC’s first deep-sea hub along its Atlantic coastline.
The development of the Port is expected to take two years and will bring “significant cost and time savings” for the DRC’s trade, as it will attract more direct calls from larger vessels from Asia and Europe. It will also be a driver of growth in the wider region.
André Wameso, Deputy Chief of Staff to the Head of State in charge of economic and financial matters, said, “This signature materializes the promise of His Excellency the President of the Republic to make the construction of the deep-water port of Banana one of the priorities of his mandate.
“He wished for a contract that takes into account the interests of the Democratic Republic of the Congo, which is now the case.”
Suhail AlBanna, CEO and Managing Director of DP World, Middle East and Africa region, said, “The signing of the term sheet is a key milestone in the partnership between DP World and the Government of the DRC, in moving forward with the project and the firm desire of DP World to be part of the President’s vision that will give the country strong, efficient and affordable access to international markets that will enhance its export capabilities.”