A 30-year concession agreement was recently signed for the propped East Mole Terminal in Pointe-Noire, Congo. The agreement was signed between AD Ports Group, the exclusive developer and regulator of ports and related infrastructure in Abu Dhabi and the Congolese government.
As per the agreement, AD Ports will have the exclusive right to invest in the development, operation, management and maintenance of the East Mole Terminal in Pointe-Noire. The company will invest more than $500 million over the life of the concession which will be executed in two phases.
The first phase of the project will gobble about $220 million of the total investment. It will generally comprise the setting up of basic installations and its operationalization is planned within the next 30 months.
Remarks on the new East Mole Terminal project agreement
Speaking on the new agreement, Capt Mohamed Al Shamisi said that it represents a significant milestone in AD Ports’ growth strategy. Al Shamisi is the managing director and group chief executive of AD Ports.
Also Read: Plans Underway for Construction of “New Mole Port” in Republic of the Congo
Additionally, he said, by expanding their operations and presence in Congo, they are not only strengthening their position in the region. “We are also tapping into a new market with immense potential.
We thus anticipate boosting trade and commerce between our countries. Moreover, we expect to open new trade routes, create new employment opportunities and contribute to the overall development of Congo through this project.”
Noteworthy, Pointe Noire is the main commercial centre of the African country. Its port plays a key role in its economy and development, as well as that of the wider region.
HoT agreement
The new agreement comes approximately 3 months since the two parties signed a Head of Terms (HoT) agreement for the new East Mole Terminal project. The HoT agreement was signed in March 2023 giving AD Ports exclusive rights to invest in the development, operation, and management of the facility.
