Abu Dhabi Group Pledges US$500 Million for New East Mole Facility
AD Ports has inked a 30-year, extendable agreement with the Republic of the Congo to manage and operate a multipurpose terminal at the central African nation’s Pointe Noire Port.
The concession agreement, which follows a “head of terms” deal signed in March, gives AD Ports the exclusive right to invest in, develop, manage and operate the terminal, which will be designed to handle containers, general cargo, breakbulk and other types of cargo.
As part of the deal, the Abu Dhabi-based ports and freezones operator has pledged to invest US$500 million in the port’s New East Mole terminal. About US$220 million has been earmarked for phase 1, which is expected to be completed over the next 30 months.
The port operator will provide the new facility with digital services and technology solutions to enhance its efficiency including design, implementation and operation of a single-window, software development, digital architecture, business analytics, digital operations support and digital transformation.
AD Ports has the right to extend the deal for a further twenty years on the same terms and conditions.
“This agreement represents a significant milestone in our company's growth strategy. By expanding our operations and presence in Congo, we are not only strengthening our position in the region, but also tapping into a new market with immense potential,” said Capt. Mohamed Juma Al Shamisi, managing director and group CEO of AD Ports Group.
“We anticipate boosting trade and commerce between our countries and opening new trade routes, creating new employment opportunities, and contributing to the overall development of Congo. As such, we will be closely working with our government partners in the Republic of the 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 we consider the key role that the “New East Mole Port” in Pointe Noire plays as one of the best performing ports on the central west coast of the African continent.”
Pointe Noire is the Republic’s second-largest city and a hub for the local oil industry. International operators active in the country include US energy producer Chevron and France’s Perenco.
AD Ports, established in 2006, owns, manages and operates 11 ports and terminals in the UAE and Guinea and more than 550 square kilometres of industrial zones within KIZAD and ZonesCorp, the largest integrated trade, logistics and industrial business grouping in the Middle East.
AD Ports Group is an exhibitor and sponsor at Breakbulk Middle East. The next event will take place on 12-13 February 2024 at the Dubai World Trade Centre.
