The Ports Group to invest US$ 220mn in infrastructure development
AD Ports Group recently signed a shareholders’ agreement with the CMA CGM Group, a global player in sea, land, air, and logistics solutions, through its subsidiary CMA Terminals, to jointly develop, manage and operate the New East Mole multipurpose terminal in Pointe Noire, Congo-Brazzaville, for which AD Ports Group received a 30-year extendable concession in June 2023.
With the signing, AD Ports Group and the CMA CGM Group formed a joint venture, majority-owned by AD Ports Group, to develop, manage, and operate New East Mole multipurpose terminal at the Port of Pointe Noire, which will handle containers, general, break-bulk and other types of cargo at the Central West African nation’s biggest Atlantic port.
At the time it obtained the concession, AD Ports Group said it expected to invest about US$ 220mn (AED 807mn) to build a 400-metre quay wall at 16-metre depth, plus a 10-hectare logistics area, during Phase 1 of the project.
Cementing partnership
With this new agreement, AD Ports Group and the CMA CGM Group are further cementing their partnership after the inauguration of CMA Terminals Khalifa Port last December, an AED 3.1bn (US$ 845mn) container terminal that will eventually expand Khalifa Port’s container capacity of 7.8mn Twenty Foot Equivalent Units (TEUs) in 2024 by 33% or 2.6mn TEUs.
In The Republic of Congo, CMA CGM shipping line holds the leading position in exports and ranks second in imports and transshipment, with historically an overall container volume market share in the country of about 35%.
“We believe this partnership will position the Republic of Congo at the centre of maritime trade, in line with projections for annual growth of 3% to 5% in container volumes forecast for the country over the medium term,” observed Mohamed Eidha Al Menhali, Regional CEO, AD Ports Group.
“We look forward to bringing the operational and economic benefits of this collaborative, sustainable approach to The Republic of the Congo and to its importers and exporters,” commented Christine Cabau Woehrel, Executive Vice President, Assets and Operations, CMA CGM Group.
