AD Ports Group signed on Tuesday a 30-year concession agreement with the Government of the Republic of the Congo to manage and operate the multipurpose New East Mole Terminal in Pointe-Noire in the African country.
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.
The Abu Dhabi-based company 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 Group 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.
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.
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.
The agreement was signed by Capt. Mohamed Juma Al Shamisi, Managing Director and CEO of 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.
In 2021, the United Arab Emirates (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.