Mediterranean Shipping Company (MSC) has entered into a 35-year concession agreement with Ivory Coast’s (Côte d’Ivoire) San Pedro Port for the operation and expansion of the port’s San Pedro Container Terminal (TCSP).

The port will initially invest around CFA300bn (€460m) for the project, which will enable the port to handle 14,000 twenty-foot equivalent units (TEUs) of cargo vessels.

San Pedro Port will also introduce new shipping technologies during this phase in order to facilitate transhipment operations and boost the port's overall development.

MSC will provide around CFA130bn (€195m) for improving superstructure and installing ultra-modern equipment at the terminal following the initial investment, including latest IT technologies.

Mediterranean Shipping Company president and CEO Diego Aponte said: “The signing of this agreement today will further strengthen the strong links between MSC and the government of Côte d’Ivoire.

"Our structural investment and operations will allow San Pedro to become a state-of-the-art terminal and increase trade relationships with new and traditional business partners."

"It also confirms our long-term engagement to contribute to national efforts in supporting the country’s growing position on the international scene.

“Our structural investment and operations will allow San Pedro to become a state-of-the-art terminal, increase trade relationships with new and traditional business partners, as well as enhance its competitiveness at both the national and global levels.

“We are also extremely proud to generate inclusive growth through job creation and vocational training, as the terminal is expected to employ hundreds of people directly and a larger number of people indirectly.”

MSC has already made various investments in inland transportation of Côte d’Ivoire via its subsidiary MEDLOG.

Image: Deal signing between Mediterranean Shipping Company and Côte d’Ivoire official. Photo: courtesy of MSC Mediterranean Shipping Company SA.