Kribi Container Terminal receives FCFA 12billion loan to boost its capacity

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Kribi Container Terminal (KCT) has signed a FCFA 12billion credit agreement with SCB Cameroon to boost its capacity at the container terminal. According to internal sources in the local banking sector, this is KCT’s second loan in a month, after one in June 2023 with the Cameroonian subsidiary of the French conglomerate Société Générale. Kribi Container Terminal is a container terminal at the Kribi deep seaport.

According to internal sources at the Autonomous Port of Kribi (PAK), the public company that manages the Kribi port platform, the financing thus mobilized is intended to carry out the works of phase 2 of the development of KCT. Which should double or even triple the KCT’s operational capacity. Additionally, KCT will settle at the second container terminal (710 meters), which is currently under development, as part of the second phase. The concessionaire is currently operating the first (350 meters).

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Size of the proposed expansion work on the Kribi Container Terminal

KCT intends to increase the size of the surface area of the terminal from 14 to 33 hectares, quadruple the number of yard gantries from 10 to 20. As well as increase the number of tractors from 18 to 48, and increase the number of reefer berths from 192 to 370. It also intends to triple the number of quayside gantries from two to seven. According to a reliable source, this will increase the terminal’s container handling capacity from 9,000 TEU to 22,000 TEU.

Furthermore, this expansion in capacity will allow the container terminal to expand its operations. Which has been continuously developing since its opening on the Kribi port platform in March 2018. According to data gathered by PAK, the container terminal has experienced 35% yearly growth in cargo volumes over its five years of operation. Which represents a 119% increase in import quantities, a 63% increase in export volumes, and 35% increase in transshipment volumes.