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Congo port concession terms amended: DP World

This will help to develop the trade and logistic sector of the nation

Dubai-based state-owned port operator DP World has recently agreed with the Democratic Republic of Congo to amend its contract for a port concession for 30 years, according to the media. The operator stated that the two parties had signed a term sheet that summarises the amendments that follow a review of some of the clauses that were signed during March 2018.

DP World is said to have not disclosed what the amendments were but stated that they are supporting President Felix Tshisekedi to develop the trade and logistic sector. The firm will start developing the deep sea Banana Port and is expected to take two years. It is to note that the company did not reveal when the construction of the project would begin.

The development of the port will bring significant cost and time savings for the trade of the country. It will also attract more direct investments from larger vessels from Europe and Asia and boost its economy and the region. This port would be the Democratic Republic of Congo’s first deep sea port along its coastline of 37 kilometres on the Atlantic ocean.

The company was also awarded the concession in order to develop and manage the Atlantic Coast port in 2018 via a joint venture with the government. Back then, the firm stated that it would hold a 70 percent stake and leave the remaining 30 percent to the government. The construction of the same was supposed to start that year and be completed within two years.

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