DP World says Congo port concession terms amended
Dubai state-owned port operator DP World said on Sunday it had agreed with the Democratic Republic of Congo to amend its contract for a 30-year port concession.
DP World said the two sides had signed a term sheet summarizing the amendments following a review of some of the clauses signed in March 2018.
DP World did not disclose what the amendments were, though said they were made to better support President Felix Tshisekedi’s plans to develop the trade and logistic sector.
DP World is set to start the development of the deep sea Banana Port, which is expected to take two years, it said, without specifying when construction would begin. DP World was awarded the concession to develop and manage the Atlantic Coast port in 2018 through a joint venture with the government.
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DP World, a leading global provider of end-to-end logistics solutions, is set to start the development of the deep sea port at Banana, following agreement on amendments to the initial contract between the company and the Government of the Democratic Republic of the Congo.
A term sheet summarizing the amendments to the contract, which was signed in Kinshasa by Guylain Nyembo Mbwizya, Chief of Staff to the Head of State, and Suhail Al Banna, CEO and Managing Director of DP World, Middle East and Africa region, follows part of a review by the parties of some of the existing contractual document clauses signed in March 2018, when DP World was awarded the 30-year concession to develop and manage the Banana Port.
KINSHASA, 9th May 2021 (WAM) - DP World, a leading global provider of end-to-end logistics solutions, is set to start the development of the deep sea port at Banana, following agreement on amendments to the initial contract between the company and the Government of the Democratic Republic of the Congo.
A term sheet summarizing the amendments to the contract, which was signed in Kinshasa by Guylain Nyembo Mbwizya, Chief of Staff to the Head of State, and Suhail Al Banna, CEO and Managing Director of.
DP World, a leading global provider of logistics solutions, is set to start the development of the deep sea port at Banana, following agreement on amendments to the initial contract with the Democratic Republic of the Congo (DR Congo).