Concession for Congo's Pointe-Noire Port
It is a major investment for the Abu Dhabi maritime group: AD Ports Group has signed a 30-year concession agreement to manage and operate a multipurpose terminal in Congo’s Pointe-Noire Port. The concession contract for the new East Mole Terminal may be extended to cover a further period of 20 years.
The deal is based on the previous head of terms agreement signed between the two parties in March 2023. Under these terms, the investor will have the exclusive right to invest in the development, operation, management, and maintenance of the “New East Mole Port” that will handle containers, general cargo, break-bulk and other types of cargo.
AD Ports Group will invest more than USD 500 million over the duration of the concession, with around USD 220 million allocated for phase 1, which is expected to be completed over the next 30 months. A new digital architecture is part of the scheme.
Mohamed Juma Al Shamisi, group CEO of AD Ports Group, commented that his company is “tapping into a new market with immense potential. We anticipate boosting trade and commerce between our countries and opening new trade routes."
Denis-Christel Sassou Nguesso, minister for international cooperation and promotion of public private partnership of the Republic of the Congo, underlined that this agreement is in line with "our efforts to promote economic growth and development in Brazzaville.” His country is pursuing a new national development plan (NDP) focusing on economic diversification and growth.
In 2021, UAE exported goods worth USD 137 million to the Republic of the Congo, with the main exported products being cars for USD 35 million, the Observatory of Economic Complexity (OEC) reports. Over the last 16 years, exports from UAE to the Republic of the Congo have increased at an annualised rate of 5.6%, up from USD 57 million in 2005 to USD 137 million in 2021.
In 2021, the Republic of the Congo exported goods worth USD 1.75 billion to UAE, with the main exported products being refined copper (USD 1.6 billion) and gold (USD 70.6 million). Over the last 16 years the country’s exports to UAE have grown at an annualised rate of 30%, from USD 26 million in 2005 to USD 1.75 billion in 2021. (cd)