Congo will welcome its first deep-sea port with the new UK-DP World partnership. The project will serve as the single gateway for imports and exports of containers in the country.
Democratic Republic Congo’s first deep-sea port ‘Port of Banana’ is currently under construction. The project is being carried out by UAE’s DP World in partnership with the United Kingdom.
The new port will expand DP World’s presence in Africa. British International Investment Plc (BII) is planning to invest the amount of $35 million in the project, which is estimated to be reduced to the trade cost in the DRC by 12% and create 85,000 jobs.
Reportedly, the port will be developed in phases and will include a 600-meter quay with an 18-meter draft, which is designed to accommodate the large vessels. The DP World’s involvement in the project is a crucial part of its plans to invest $2 billion in the infrastructure work of African port and $1 billion in logistics operations over the next three to five years.
The port project partnership will follow the previous collaborations between the two entities, expanding it to Somaliland, Egypt and Senegal.
Considering this, BII said on Monday, August 19, 2024 that the port will develop in multiple phases and its capacity is expected to gradually increase over the time.
Africa boasts vast and abundant natural resources which includes oil and gold. As a demand for critical minerals skyrockets, companies are increasing their investments across the continent to stay competitive.
Declining performances of South Africa’s rail and logistics firm ‘Transnet SOC Ltd.’ and is creating opportunities for the regional ports.
As per the sources, the Transnet firm works on improving the operations, that these ports are increasing their capacity to capitalize on the growing demand.
According to Chairman Sultan Ahmed Bin Sulayem, the DP World’s Strategy involves developing the Port of Banana and establishing a new trade corridor that connects it to Africa’s east coast.
The project aims to overhaul the Democratic Republic of Congo’s basic infrastructure by adding a 600-meter (1,968 ft) quay with an 18-meter draft, which is designed to accommodate the largest vessels that are currently in operation.
The DP World plans to achieve a container while handling the capacity of approximate 450,000 units. The spokesperson from the company do not provide a timeline for the development.