DP World of Dubai, United Arab Emirates, just announced it had been awarded the contract to construct an important new seaport for the Democratic Republic of the Congo (DRC) starting in 2022.
The project, which is estimated to cost US $1 billion, will be built on the Democratic Republic of the Congo town of Banana.
The new Banana Port will be the country’s first deep-sea port. It will replace neighboring ports at Tanzania’s Dar es Salaam and Kenya’s Mombasa facilities. Having the capability to manage the whole operation is key to expanding the DRC’s booming exports of copper, cobalt, tin, tungsten, and tantalum.
Most of those exports are shipped to China. A sizeable percentage of the rarest of those materials are guaranteed for shipment to China under previously negotiated agreements with Beijing.
As a first step in the construction process, DP world will be building a 2,000-foot-long quay, along with dredging a clear port area for vessels drawing 60 feet in depth. At completion it will be capable of handling the deepest-draw container vessels used anywhere in the world.
At completion, the port will include a 75-acre yard to store containers for both outbound and inbound use, plus facilities for managing inspections and other operations needs at the facility.
The finished Banana Port will be capable of shipping approximately 450,000 TEU per year.
Under the terms of the agreement, DP World will reserve exclusive rights to develop and manage the concession for the port for a 30-year term. Ownership of the port will be split 70% for DP World and 30% for the DRC government.
“This agreement represents the vision to provide DRC with a modern, world-class port and logistics infrastructure to support the tremendous opportunities for trade in this country. The port will enhance the country’s export capabilities and give it affordable access to international markets,” said DP World CEO Sultan Ahmed bin Sulayem on the announcement of the contract.
The contract to build the port was signed directly between the DRC government and DP World.
