AD Ports Group, the leading global facilitator of trade, logistics, and industry, today signed a 30-year concession agreement with the Government of the Republic of the Congo for managing and operating the multipurpose New East Mole Terminal in Pointe-Noire in the Republic of the Congo.
The agreement was signed by Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, Mr. Denis-Christel Sassou Nguesso, Minister of International Cooperation and Promotion of Public-Private Partnership, and Mr. Honore Sayi, Minister of Transport, Civil Aviation and Merchant Navy of the Republic of the Congo. The agreement follows the previous Head of Terms agreement signed between the two parties in March 2023.
Under the terms of the new agreement, AD Ports Group will have the exclusive right to invest in the development, operation, management, and maintenance of the “New East Mole Port” which will handle containers, general cargo, break-bulk and other types of cargo. The Agreement runs for thirty years from the date of signing and AD Ports Groups shall have the right to further extend it for a further period of twenty (20) years on the same terms and conditions.
AD Ports Group will invest more than US$ 500 million over the life of the concession, with around US$ 220 million allocated for phase 1, which is expected to be completed over the next 30 months.
Throughout the term of the Agreement, the Group 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.
Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, of AD Ports Group, said: “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. 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.”
Capt. Al Shamsi added: “In line with the directions of our wise leadership, AD Ports Group continues to expand its operations globally, working with partners to develop world-class port, logistics, and maritime facilities in key commercial hubs.”
Mr. Denis-Christel Sassou Nguesso, Minister of International Cooperation and Promotion of Public-Private Partnership of the Republic of the Congo, said:
“We are delighted to partner with AD Ports Group in this exciting new agreement. This partnership represents a significant step forward in our efforts to promote economic growth and development in Brazzaville, Congo.
“Through this partnership, we will have access to AD Ports Group’s expertise and resources, which will be invaluable in developing our infrastructure and supporting our plans. We are confident that with their support, we can accelerate progress in critical areas such as transportation, trade, and logistics. We believe that this partnership has the potential to be a game-changer for our country, and we are excited to see the positive impact it will have in the years to come.”
Pointe Noire is the main commercial centre of the Republic of the Congo, and its port plays a key role in the economy and development of the nation and wider region. Executives are confident that the collaboration will help stimulate trade and enhance connectivity for the Republic of the Congo, which is pursuing a new National Development Plan (NDP) focusing on economic diversification and high, resilient, and inclusive growth.
In 2021, the UAE exported goods worth US$137 million to the Republic of the Congo, with the main exported products being cars for US$35 million, according to the Observatory of Economic Complexity (OEC). During the last 16 years, the exports of the UAE to the Republic of the Congo have increased at an annualized rate of 5.6%, from US$57 million in 2005 to US$137 million in 2021.
In 2021, the Republic of the Congo exported goods worth US$1.75 billion to the UAE, with the main exported products being Refined Copper (US$1.6 billion) and Gold (US$70.6 million) according to the Observatory of Economic Complexity (OEC). During the last 16 years, the exports of the Republic of the Congo to the UAE have increased at an annualized rate of 30%, from US$26 million in 2005 to US$1.75 billion in 2021.
Source: Hellenic Shipping News
