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Tuesday, July 23, 2024
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AD Ports Group to invest $500 million in Congo’s Pointe-Noire port

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AD Ports Group, a leading global facilitator of trade, logistics and industry, will invest a total of US$500 million to develop, manage and operate the new multi-purpose East Moore terminal in Pointe-Noire, Republic of Congo. The first phase of the project, with an investment of US$220 million, is expected to be completed within the next 30 months.

To this end, AD Ports Group signed a 30-year concession agreement with the Government of the Republic of Congo.

Under the terms of the new agreement, AD Ports Group will exclusively invest in the development, operation, management and maintenance of the “New East Moore Port,” which will handle containerized, breakbulk, breakbulk and other types of cargo cargo.

30-year agreement

The agreement is valid for thirty years from the date of signing and AD Ports Groups has the right to extend it for a further twenty (20) years on the same terms and conditions.

The agreement was signed by Capt Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, Denis-Christel Sassou Nguesso, Minister of International Cooperation and Promotion of Public-Private Partnerships, and Honore Sayi, Minister of Transport, Civil Aviation and Merchant Shipping of the Republic of Congo. The agreement follows a previous terms principal agreement signed between the parties in March 2023.

Throughout the term of the agreement, the Group will provide digital services and technology solutions to improve the efficiency of the new facility, including single window design, implementation and operation, software development, digital architecture, business analytics, digital operations support and digital transformation.

key milestone

Captain Al Shamisi said: “This agreement represents an important milestone in our company’s growth strategy. By expanding our business and presence in Congo, we not only strengthen our position in the region, but also open up a new market with great potential We look forward to promoting trade and commerce between our two countries, opening new trade routes, creating new jobs, and contributing to the overall development of the Congo.

“As such, we will be working closely with our government partners in the Republic of Congo to identify areas where our partnership can help support their vision for the future. This concession agreement holds great potential and promise for both parties, especially when When we consider the pivotal role that Pointe Noire’s ‘New East Moore Port’ plays as one of the best-performing ports on the continent’s mid-west coast.”

Capt. Al Shamsi added: “Following the directives of our wise leadership, AD Ports Group continues to expand globally, working with partners to develop world-class ports, logistics and maritime facilities in key business centres.”

growth and development

Nguesso said: “This partnership represents an important step forward in our efforts to promote economic growth and development in Congo Brazzaville.

“Through this partnership, we will gain access to AD Ports Group’s expertise and resources, which will be invaluable in developing our infrastructure and supporting our future plans. We believe that with their support, we can Accelerate progress in key areas such as transportation, trade and logistics. We believe this partnership has the potential to be a game-changer for our nation, and we are excited to see the positive impact it will have in the years to come.”

Pointe-Noire is the main commercial center of the Republic of Congo, and its port plays a key role in the economy and development of the country and the wider region. Executives believe the partnership will help stimulate trade and enhance connectivity in the Republic of Congo, which is pursuing a new National Development Plan (NDP) focused on economic diversification and rapid, resilient and inclusive growth .

UAE export

According to the Observatory of Economic Complexity (OEC), the UAE exported goods worth US$137 million to the Republic of Congo in 2021, with the main export being automobiles worth US$35 million. Over the past 16 years, UAE exports to the Republic of Congo have grown at an annualized rate of 5.6%, from $57 million in 2005 to $137 million in 2021.

According to the Observatory of Economic Complexity (OEC), the Republic of Congo exported goods worth $1.75 billion to the UAE in 2021, with the main exports being refined copper ($1.6 billion) and gold ($70.6 million). Exports from the Republic of Congo to the UAE have grown at an annual rate of 30% over the past 16 years, from $26 million in 2005 to $1.75 billion in 2021. trade arab news agency

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