APMT moves into Port of Monrovia, Africa

APM TERMINALS plans to invest US$120 million at the Port of Monrovia in Liberia, after signing a 25-year concession agreement to operate the facility. The funds will be spent over the course of the privatisation contract.

Most of the investment will finance the construction of a quay, establishment of efficient yard handling procedures, and the installation of new equipment to enable the port to handle modern, deep-draught vessels, reports London's International Freighting Weekly.

"This will be the first 100 per cent APM Terminals-owned terminal in Africa, which is a big milestone for us and represents the company's positive outlook for the region," Hans-Ole Madsen, vice president for Business Development for Africa, Middle East and Indian subcontinent, was quoted as saying.

Local Monrovia businessman and customer of the port, Upjit Singh Sachdeva, of Jeety Trading Corp said: "Privatisation is always something to be excited about and this is no exception. We look forwards to working with APM Terminals. We eagerly await the improvements to be made to the Port of Monrovia."
(Source:www.schednet.com)