Congo Terminal, a subsidiary of Africa Global Logistics, has secured a financing agreement worth €230m ($250.7m) to expand the container terminal at the Autonomous Port of Pointe Noire (PAPN) in the Republic of the Congo.
The financing was arranged by Credit du Congo and Attijariwafa Bank, with participation from Congolese banks, including EcoBank, Banque Commerciale Internationale, Banque Sino-Congolaise pour l’Afrique, and BGFIBank Congo.
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The funding will facilitate the construction of a new 750 linear metre quay by 2027, encompassing an area of 28ha and reaching a depth of 17m.
The three-year project, with a total cost of €361m ($393.5m), is a strategic investment designed to enhance the operational capacity of Congo’s sole maritime outlet and promote the economic growth of the country and the neighbouring regions.
Credit du Congo CEO Hicham Fadili said: “The financing of a private sector project of this magnitude is a first. Its completion testifies to the commitment of local banks to support the country’s economic growth, thus benefiting our customers, the local community and all the economic actors involved.”
Congo Terminal, a joint venture involving AGL, APM Terminals and SOCOTRANS, is a major employer in the region with more than 900 permanent staff members.
Since 2009, Congo Terminal has held the exclusive rights for handling container and ro-ro vessels at PAPN.
In August 2023, an amendment to the concession contract was signed, extending the concession until the end of 2050 in exchange for the terminal’s expansion.
Congo Terminal managing director Anthony Samzun said: “This achievement marks a major milestone for Congo Terminal and for the development of the country’s infrastructure.
“Thanks to this cooperation with all partners, the terminal will be able to accommodate the largest container ships, thus contributing to the fluidity of trade and the competitiveness of the Congolese economy on the international scene.”
Last month, AD Ports Group and CMA Terminals partnered to develop and operate the New East Mole multipurpose terminal in Pointe Noire, following AD Ports’ 30-year concession secured in June 2023.
