Officials at the signing of the Kazakhstan framework agreements in Abu Dhabi

Officials at the signing of the Kazakhstan framework agreements in Abu Dhabi

Firm in port deal, buys warehouse unit

April 2018

DP World 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).

DP World will set up a joint venture with 70 per cent control, and the government of DRC holding a 30 per cent 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-m quay and 25-hectare yard extension with a container capacity of 350,000 TEU (twenty-foot equivalent units) and 1.5 million tonnes for general cargo.

Construction is expected to start in 2018 and is expected to take approximately 24 months to complete.

Meanwhile, Hindustan Infralog Private Limited (HIPL), a joint venture between DP World and India’s National Investment and Infrastructure Fund (NIIF), acquired 90 per cent stake in Continental Warehousing Corporation (Nhava Seva) Ltd (CWCNSL).

CWCNSL is an integrated multimodal logistics player in India. Its founders, the Reddy family, will retain the remaining 10 per cent shareholding and will remain involved in the business operations, said a statement.

In India, DP World has been operating container port terminals since 1997 and was instrumental in building the first Private-Public Partnership (PPP) project for the Government of India. DP World is currently present at six locations in India with over 6 million TEU of gross capacity and also operates container trains connecting ports to the hinterland.

DP World and the government of Kazakhstan signed two framework agreements in Abu Dhabi relating to the acquisition, governance and management of Special Economic Zones (SEZ) in Aktau and Khorgos.

DP World has been providing management services to the Port of Aktau, Kazakhstan’s main cargo and bulk terminal on the Caspian Sea, and Khorgos SEZ.


More Stories