San Pedro Port Seeks $1.65b for Expansion

Posted by Eric Haun
Thursday, May 08, 2014

Ivory Coast's port of San Pedro is seeking 777 billion CFA francs ($1.65 billion) from private partners to fund upgrades that aim to make it one of West Africa's top shipping hubs, including for iron ore and nickel, the transport minister said.

San Pedro is already the world's leading port for cocoa exports, shipping more than half of total output from Ivory Coast, the top producer of the chocolate ingredient. It also exports coffee, palm oil, timber and cotton.

But the government of President Alassane Ouattara wants to make the port the centrepiece of an ambitious plan that would see more than 8 trillion CFA francs invested in the development of the country's predominantly agricultural western regions.

"The port of San Pedro is our next development and growth hub, because it is from San Pedro that we will export iron and nickel ore," Transport Minister Gaoussou Toure told an investment forum late on Wednesday.

Ivory Coast has long neglected its potentially lucrative mining sector in favour of a concentration on soft commodity exports. But following a decade-long crisis that ended in a brief civil war in 2011, it is seeking to diversify its economy.

India's Tata Steel is finalising exploration and feasibility studies for its Mt. Nimba and Mt. Gao concessions and plans to invest around $1 billion to develop the two iron deposits.

It plans to use the ore mined in Ivory Coast to supply steel mills in Britain and the Netherlands operated by its subsidiary Tata Steel UK, the second-largest steel producer in Europe.

Detailing the investment plans, Toure said San Pedro was seeking private partners to finance the construction of a new 500 billion CFA franc terminal to handle ore exports.

A proposed second container terminal is expected to cost 260 billion CFA francs, he said, while a multipurpose terminal will cost an additional 17 billion CFA.

San Pedro entered a partnership with Port of Antwerp International (PAI), a subsidiary of Antwerp's port authority, in 2012 as part of efforts to secure $230 million in financing from private investors.

The port announced in February it planned to build a new refined fuel terminal targeting distribution in the country's west, as well as export markets in neighbouring Liberia, Guinea and Mali.

($1 = 471.1490 CFA Francs)

(By Ange Aboa; Writing by Joe Bavier; Editing by Mark Trevelyan)

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

Bulk Carrier Trends

Bulk Carrier Runs Aground in Delaware River (Link to Video)

Coast Guard Sector Delaware Bay is investigating a ship aground in the Delaware River near the Burlington Bristol Bridge, which connects Burlington, NJ and Bristol Township, PA.

ABS CEO Lays Out Vision for Technical Leadership at CMA Shipping

During the recent CMA Shipping 2015 conference in Stamford, Connecticut, ABS Chairman and CEO Christopher J. Wiernicki provided the conference's keynote address

Baltic Sea Freight Index Down on Lower Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Wednesday, pulled down by a fall in rates across all vessel segments.

Ports

Bulk Carrier Runs Aground in Delaware River (Link to Video)

Coast Guard Sector Delaware Bay is investigating a ship aground in the Delaware River near the Burlington Bristol Bridge, which connects Burlington, NJ and Bristol Township, PA.

Tanker Backlog Builds at Basra

Ships face up to a three week wait; bad weather in February delayed loading, created backlog. * April intake to be reduced to clear backlog By Keith Wallis SINGAPORE,

U.S. Port Delay Boost February Air Freight

Global air freight volumes rose 11.7 percent year-on-year in February, driven by the Chinese New Year, the International Air Transport Association said on Wednesday.

Finance

BMT Partners with Aage Hempel

BMT SMART (BMT),  has announced  that Aage Hempel has become an accredited service partner.  This agreement will provide both organizations with the opportunity

Tanker Backlog Builds at Basra

Ships face up to a three week wait; bad weather in February delayed loading, created backlog. * April intake to be reduced to clear backlog By Keith Wallis SINGAPORE,

U.S. Port Delay Boost February Air Freight

Global air freight volumes rose 11.7 percent year-on-year in February, driven by the Chinese New Year, the International Air Transport Association said on Wednesday.

News

Bulk Carrier Runs Aground in Delaware River (Link to Video)

Coast Guard Sector Delaware Bay is investigating a ship aground in the Delaware River near the Burlington Bristol Bridge, which connects Burlington, NJ and Bristol Township, PA.

Largest All-Electric Pipe Bender Starts Operations at Newport News Shipbuilding

Unison has commissioned what is believed to be the largest all-electric tube bending machine ever produced. The machine has started operations at Newport News Shipbuilding,

Oceanex Named One of Canada’s Best Managed Companies

Oceanex Inc. was named one of Canada’s Best Managed Companies Gold Standard Members in 2014. This national award is sponsored by Deloitte, CIBC, National Post,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Sonar
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: 0.1486 sec (7 req/sec)