Dubai: Dubai’s DP World has struck another agreement to develop-manage a port in Africa, this time a deep-sea port in Democratic Republic of Congo.
The agreement follows the signing of a term sheet earlier this year between DP World and the DRC Government, which summarized the agreed amendments to the initial contract signed in 2018. This now paves the way for DP World to begin construction within 12 months of the DRC’s first deep-sea port, which will be located at Banana along the country’s 37-kilometre coastline on the Atlantic Ocean.
"Development of infrastructure is a priority for the UAE to build trade and economic bridges between the UAE and Africa,” said Khalifa Shaheen Almarar, UAE Minister of State. “This port project is part of many initiatives to promote economic prosperity."
Cost and time
The development of the Banana Port 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 will also directly 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.
Félix-Antoine Tshisekedi, President of the DRC, said: "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."