The Democratic Republic of Congo (DRC) is set to break ground on its first deep-sea port thanks to a partnership between the Emirati logistics company DP World and British International Investment Plc (BII). The project will be located at the Port of Banana where the Congo River meets the Atlantic Ocean. The new port will expand DP World’s presence in Africa. BII plans to invest $35 million in the project, which it estimates will reduce trade costs in the DRC by 12% and create 85,000 jobs. The port, developed in phases, will include a 600-meter quay with an 18-meter draft, designed to accommodate large vessels. DP World’s involvement in the project is part of its plans to invest $2 billion in African port infrastructure and $1 billion in logistics operations over the next three to five years.
SOURCE: BUSINESS INSIDER
