DP World has won a 30-year concession with an option of a further 20-year extension for the management and development of a greenfield multi-purpose port project at Banana, Democratic Republic of the Congo (DRC). The Port of Banana will be the first deep-sea port in the country along its small coastline of 37 kilometers, which currently only has the riverine port of Matadi.
DP World will set up a joint venture with 70 percent control, and the government of DRC holding a 30 percent share, to manage and invest in the Port of Banana. The first phase of the greenfield project, with an estimated initial investment of $350 million, will include a 600-meter quay and 25-hectare yard extension with a container capacity of 350,000 TEU (20-foot equivalent units) and 1.5 million tons for general cargo.
Construction is expected to start in 2018 and is expected to take approximately 24 months to complete. The initial investment of $350 million will be spread over 24 months and the t
