APM Terminals joins Bollore Group to build new Congo terminal

APM Terminals, the terminal operating arm of AP Moller-Maersk, plans to join French Bollore Group in building a deepwater container terminal in the Republic of Congo (Brazzaville).

"APM Terminals will be a minority shareholder in the Congo Terminal which achieves our goal of participating in the market growth of the Congo and Central Africa,said APM Terminals Global Business Development vice president Klaus Sejling.

Reuters reported that the Bollore Group signed a EUR570 million (US$759 million) 27-year concession agreement with the Congolese government last December on the deepwater facility, according to APM Terminals.

The new container terminal will be designed to initially handle vessels carrying up to 7,000 TEU and to double annual throughput from 300,000 TEU containers.

Source: http://www.schednet.com