DP World wins 30-year DRC port concession

DP World will set up a joint venture with 70% control of the first deep-sea port in the DRC, development of which is expected to significantly boost the country’s trade opportunities and reduce its dependency on the neighbouring countries’ ports. The government of DRC will hold a 30% share in the venture, which has the option of a further 20-year extension.

Speaking about the deal, which involves an initial investment of US$350m, Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World, said: “We are delighted to extend our African footprint further with a major investment in the Democratic Republic of the Congo, which is Africa’s third-most populous country but has no direct deep-sea port.

“Investment in this deep-water port will have a major impact on the country’s trade with significant cost and time savings, attracting more direct calls from larger vessels from Asia and Europe, and ultimately acting as a catalyst for the growth of the country and the region’s economy.”

Competitive infrastructure

The first phase of the greenfield project will include a 600m quay and 25-hectare yard extension, with a container capacity of 350,000 teu and 1.5m tonnes for general cargo.

Construction is due to start in 2018 and is expected to take approximately 24 months to complete, with the initial investment of US$350m spread out over this period.

The total project cost of more than US$1bn over four phases will be dependent on market demand for the port, industrial and logistics zone infrastructure.

Earlier this month, Port Strategy reported on an alleged February 2017 development agreement between DP World and the Transport Ministry .