Africa Global Logistics (AGL), through its subsidiary Congo Terminal, signed a financing agreement of approximately US$250 million to finance the development of the container terminal in the Autonomous Port of Pointe Noire (PAPN) in Congo-Brazzaville. These finances will be dedicated to constructing a new 750-linear-metre quay which will take 28 hectares of ground space to an extent of 17 metres depth. This development project, slated to be on the floor for about three years, will carry an approximate estimated cost of US$393 million.
The loan deal follows a banking round led by Crédit du Congo and Attijariwafa Bank, which acted as arrangers. The financing group is made up of exclusively Congolese banks, including Crédit du Congo, EcoBank, Banque Commerciale Internationale, Banque Sino-Congolaise pour l’Afrique, and BGFIBank Congo. Foreign banks and financial institutions also have expressed interest in the project, reflecting its strategic value in regional trade and logistics.
This investment, which is, as per AGL, part of a global strategy to propel the operational performance and competitiveness of PAPN, will enhance the port’s capacity by allowing it to accommodate larger vessels and greater volumes of cargo. This, as a result, will enhance trade within the region and position Pointe Noire as one of the region’s strategic logistics centers. The development of the new quay and the infrastructure will reduce congestion, improve vessel turnaround time, and facilitate smoother operations for shipping lines and companies that rely on the port.
Congo Terminal, the company behind the expansion, has had a pivotal role in managing container ship and Ro-Ro ship operations at PAPN since 2009. The company is a three-party joint venture between AGL, APM Terminals, and the Congolese Transport Company (SOCOTRANS). Under its direction, the port has been enjoying sustained increases in efficiency and capacity to become among the most important maritime gateways in the area. The new investment further ratifies its role in serving Congo-Brazzaville’s economic growth as well as neighboring countries.
The terminal’s expansion comes on the heels of an August 2023 revision of the concession agreement. With the agreement, Congo Terminal obtained an extension of its concession up to December 2050. The long lease provides stability and ensures that the investments in the port will accrue long-term returns for the country’s trade infrastructure and economy.
Pointe Noire Autonomous Port is Congo-Brazzaville’s most important asset, as it is the central point of import and export for goods coming into and going out of the country. With high volumes of trade and demand for effective logistics provision on the rise, the expansion of the capacity of the port is necessary for competitiveness and gaining international shipping company business. The new facilities will allow the port to accommodate the next generation of container vessels, further placing Congo-Brazzaville in the global supply chain.
The financing agreement and the plans for expansion are a landmark for AGL and Congo Terminal. By investing in new facilities and increasing the capacity of the port, the project will help economic growth, employment, and enhanced trade prospects for the region. With work on the terminal poised to commence, stakeholders expect the new terminal to solidify PAPN’s status as a leading maritime center in Central Africa.
