The Agreement will stimulate trade and enhance connectivity in the country
AD Ports Group recently 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, Denis-Christel Sassou Nguesso, Minister of International Cooperation and Promotion of Public Private Partnership and Honore Sayi, Minister of Transport, Civil Aviation and Merchant Navy of the Republic of the Congo.
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’ that 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$ 500mn over the life of the concession, with around US$ 220mn allocated for phase 1, which is expected to be completed over the next 30 months.
“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,” commented Capt. Al Shamisi.
“This partnership represents a significant step forward in our efforts to promote economic growth and development in Brazzaville, Congo,” remarked Minister Nguesso.
