Abu Dhabi, UAE – 20 June 2023: AD Ports Group (ADX: ADPORTS), the leading global facilitator of trade, logistics, and industry, today signed a 30-year concession agreement with the Government of the Republic of the Congo for managing and operating the multipurpose New East Mole Terminal in Pointe-Noire in the Republic of the Congo.
The agreement was signed by Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, Mr. Denis-Christel Sassou Nguesso, Minister of International Cooperation and Promotion of Public Private Partnership and Mr. Honore Sayi, Minister of Transport, Civil Aviation and Merchant Navy of the Republic of the Congo. The agreement follows the previous Head of Terms agreement signed between the two parties in March 2023.
Under the terms of the new agreement, AD Ports Group will have the exclusive right to invest in the development, operation, management and maintenance of the “New East Mole Port” that will handle containers, general cargo, break-bulk and other types of cargo. The Agreement runs for thirty year from the date of signing and AD Ports Groups shall have the right to further extend it for a further period of twenty (20) years on the same terms and conditions.
AD Ports Group will invest more than US$ 500 million over the life of the concession, with around US$ 220 million allocated for phase 1, which is expected to be completed over the next 30 months.
Throughout the term of the Agreement, the Group will provide the new facility with digital services and technology solutions to enhance its efficiency including design, implementation and operation of a single-window, software development, digital architecture, business analytics, digital operations support and digital transformation.
Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “This agreement represents a significant milestone in our company's growth strategy. By expanding our operations and presence in Congo, we are not only strengthening our position in the region, but also tapping into a new market with immense potential. We anticipate boosting trade and commerce between our countries and opening new trade routes, creating new employment opportunities, and contributing to the overall development of Congo. As such, we will be closely working with our government partners in the Republic of the Congo to identify areas where our partnership can help support their vision for the future. This concession agreement holds great potential and promise for both parties, especially when we consider the key role that the “New East Mole Port” in Pointe Noire plays as one of the best performing ports on the central west coast of the African continent.”
Capt. Al Shamsi added: “In line with the directions of our wise leadership, AD Ports Group continues to expand its operations globally, working with partners to develop world-class port, logistics and maritime facilities in key commercial hubs.”
Mr. Denis-Christel Sassou Nguesso, Minister of International Cooperation and Promotion of Public Private Partnership of the Republic of the Congo, said:
"We are delighted to partner with AD Ports Group in this exciting new agreement. This partnership represents a significant step forward in our efforts to promote economic growth and development in Brazzaville, Congo.
“Through this partnership, we will have access to AD Ports Group’s expertise and resources, which will be invaluable in developing our infrastructure and supporting our future plans. We are confident that with their support, we can accelerate progress in critical areas such as transportation, trade and logistics. We believe that this partnership has the potential to be a game-changer for our country, and we are excited to see the positive impact it will have in the years to come."
Thank you for your interest in our Investor downloads. You will be added to our investor database to receive updates from our investor relations teams by filling in the form.
This website contains general information about Abu Dhabi Ports PJSC (AD Ports Group) (the “Company”). The contents have been made available to you solely for information purposes and does not purport to be complete. By reading information on this website you agree to be bound as follows: nothing on this website shall constitute or deemed to constitute an invitation to invest or otherwise deal in securities in the Company.
Any investor or prospective investor considering making a transaction of securities in the Company should consult with its own counsel and advisers as to all financial, legal, tax, and related matters concerning an investment in such securities.
This website contains forward‐looking statements. These statements may include the words “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, “project”, “will”, “may”, “targeting” and similar expressions as well as statements including, without limitation, those regarding the financial position, business strategy, plans, targets and objectives of the management of the Company for future operations, including development plans and objectives. Such forward‐looking statements involve known and unknown risks, uncertainties and other important factors which may affect the Company’s ability to implement and achieve results set out in such forward‐looking statements and which may cause actual results and developments to be materially different from any forecast, opinion or expectation expressed on this website.