Funds Secured for 2nd Abidjan Container Port

Posted by Eric Haun
Thursday, July 10, 2014

Banque Atlantique, SocGen and Afreximbank have raised 200 million euros ($272.81 million) to start a second container terminal at Abidjan port in Ivory Coast, a banking spokesman said on Thursday.

The new terminal contract, awarded to a group led by France's Bollore last year, should boost capacity at one of Africa's busiest ports - a gateway for landlocked nations to the north and a transit point for beans from the world's top cocoa grower.

Port traffic is booming and total tonnage surpassed 21 million metric tons in 2013.

Banque Atlantique has raised 100 million euros and Societe Generale and Afreximbank gave 50 million euros each, Souleymane Diarrassouba, director general of Banque Atlantique, told Reuters. His bank is a subsidiary of Banque Populaire du Maroc.

"It's to allow the port of Abidjan to start the work on a second container terminal," he said, without giving a figure for the total cost of the project.

The port deal also includes France's Bouygues and a subsidiary of Danish shipping giant Maersk.

The contract has sparked controversy in Ivory Coast, with the trade minister criticising his own government for failing to promote competition by awarding it to Bollore.

($1 = 0.7331 Euros)

(Reporting by Loucoumane Coulibaly and Ange Aboa; Writing by Matthew Mpoke Bigg; Editing by Emma Farge/Mark Heinrich)

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

Scandlines Concludes Sale of Freight Routes

First State Investments is taking over the ferry route Helsingør-Helsingborg including the five vessels operating the line. The contract with First State Investments

Toyota Kirloskar, Kamarajar Port Ink Deal for Expansion

Toyota Kirloskar Motor Pvt. Ltd. (TKM)  signed an MoU with Kamarajar Port Ltd. (KPL) in order to help facilitate the expansion of its export business. The MoU

Houston Ship Channel Reopens After Ships Collide

The Houston Ship Channel has reopened after a collision between a container ship and a chemical tanker, according to a spokesman with the United States Coast Guard.

Finance

Wärtsilä, Clean Marine Energy Offer "Scrubber Finance"

Wärtsilä and Clean Marine Energy (Europe) Ltd (CME) today announced the landmark signing of the shipping industry's first collaboration agreement that will provide

Scandlines Concludes Sale of Freight Routes

First State Investments is taking over the ferry route Helsingør-Helsingborg including the five vessels operating the line. The contract with First State Investments

EC Okays Maritime Fisheries fund

European Commission has approved Malta’s Operational Program European Maritime Fisheries Fund (EMFF) for the 2014-2020 financial periods, announced Parliamentary

Container Ships

Are Megaships Game Changers?

Bragging rights for the world’s largest container ship have changed hands four times in as many months and keep on shifting again, says a report in the Bloomberg.

Port of San Pedro Seeks to Fund Upgrades with European Roadshow

Ivory Coast's second largest port of San Pedro will hold a roadshow in France and Britain next month as it seeks to raise 180 billion CFA francs ($300 million) to fund upgrades,

Navis to Deploy Its N4 TOS to France's Largest Container Terminal

Navis has reached an agreement to deploy its N4 terminal operating system (TOS) to the largest container terminal in France, the company announced today.   The license agreement was with EUROFOS,

News

USCG Petty Officer Convicted, Sentenced

A Coast Guardsman was convicted and sentenced during a General Court-Martial in New Orleans, Thursday. Petty Officer 2nd Class Leonel Hinojosa, 32, was sentenced to reduction to E-1,

Caterpillar to Stay in Peoria

After a multiyear study focused on modernizing its global headquarters, Caterpillar Inc. today reaffirmed it will remain in Peoria, Illinois, and revealed a

Hapag-Lloyd Warn About Verification by German Customs

Hapag-Lloyd has informed that for all import cargo to be discharged at the German ports of Hamburg and Bremerhaven the carrier is responsible to send a complete

 
 
Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1322 sec (8 req/sec)