The Gambia Government has approved a Public Private Partnership (PPP) concession for construction work on Banjul and Sanyang Deep Seaport. The project includes the expansion of the Port of Banjul and the development of a deep seaport at Sanyang village.
The Gambia Port Authority (GPA) is a guarantor and shareholder in the Special Purpose Vehicle (SPV). Which is owned by Turkish concessionaires Albayrak and Negmar Consortium. The PPP Technical Evaluation Committee, which was composed of representatives from the OP, GPA, GPPA, GRA, MOJ, MTWI, MOFEA, MOTIRIE, GIEPA, and the PPP Directorate at the Finance & Economic Affairs ministry, assisted the government in the bidding process. Maritime Transport Business Services (MTBS) of the Netherlands is the Transaction Adviser.
Duration of construction work on Banjul and Sanyang Deep Seaport
Both the extension of the Banjul Port and the building of Sanyang’s deep seaport must proceed simultaneously and be completed within 24 months. Work will start in earnest once the designated lead PPP concessionaire agrees to the Award instruments.
The two other preferred bidders are Red Sea Gateway Terminals of Saudi Arabia and Yilport of Turkey. They would hold equity in the SPV in order to capitalize on their individual strengths and investment opportunities. Albayrak and Negmar Consortium will be chosen as the Lead Arranger of the SPV Joint Venture (JV) responsible for building the facilities.
The PPP arrangement is expected to address the need for sustainable management and operations of The Gambia’s port facilities given the climate risks associated with sea-level rise, perennial dredging required due to increased sedimentation in Banjul and the limited capacity for expansion and congestion in the capital City. Phase 4 of the port of Banjul’s modernisation plan, which is now in progress, is being funded by a grant of USD 20.56 million from AfDB, which was provided in December 2022.
