Africa Global Logistics (AGL), through its subsidiary Congo Terminal, has entered into a financing agreement worth approximately US$250 millionfor the extension of the container terminal of the Autonomous Port of Pointe Noire (PAPN) in Congo-Brazzaville.
The agreement comes following a bank round led by Crédit du Congo and Attijariwafa Bank as arrangers and composed exclusively of Congolese participating banks Crédit du Congo, EcoBank, Banque Commerciale Internationale, Banque Sino-Congolaise pour l’Afrique, and BGFIBank Congo.
Other expressions of interest from banks and international institutions have been made on this project.
The financing will enable the construction of a new 750-linear-metre quay with a surface area of 28 hectares and a depth of 17 metres. The works will span approximately three years and will have a total cost of US$393 million.
AGL said the investment aims to strengthen the operational capacity of PAPN.
Since 2009, Congo Terminal, a joint venture between AGL, APM Terminals and Congolese Transport Company (SOCOTRANS), has been the exclusive concessionaire for the handling of container vessels and Ro-Ro vessels at PAPN.
In August 2023, an amendment to the concession contract for the extension of the terminal was signed in exchange for an extension in the duration of the concession until the end of 2050.