DP World May Develop $1.2 Billion Port at Banana on Congo Coast - Bloomberg
Republic of Congo, according to documents published by a Senegalese whistle-blowing organization.
DP World signed an agreement with the Transport Ministry in February 2017 giving the Nasdaq Dubai-listed company exclusive rights to negotiate a contract to build and operate a deep-water harbor at Banana on Congo’s Atlantic coast. The accord, released by the Platform to Protect Whistleblowers in Africa on Friday, calls for the creation of a company majority-held by DP World.
DP World is “willing to offer a minority equity stake in the port-operating company” to Congo’s government, according to a letter sent by DP World Chairman Sultan Ahmed Bin Sulayem to President Joseph Kabila on Oct. 4, 2016, and made public by the organization, known by the French acronym #PPLAAF.
The country’s existing ports at Matadi and Boma are inland up the Congo River and are incapable of handling traffic from conventional ocean-going cargo liners because of a lack of capacity and draught, according to a PricewaterhouseCoopers study of the country’s infrastructure. As a result, the nation relies on transshipments of cargo from Pointe Noire in neighboring Republic of Congo.
Deepening the antiquated sea port at Banana would provide additional shipping capacity to the mineral-rich nation at a cost of as much as $2 billion and may take as long as 10 years to complete, PWC said. Congo is Africa’s largest copper producer and the world’s biggest source of cobalt.
Sultan Ahmed Bin Sulayem et DP World, du Golfe d’Aden au Golfe de Guinée… (dans lequel la Commission du même nom inclut jusqu’à l’Angola).