( AGL) - Africa Global Logistics (AGL) announces the signing by its subsidiary Congo Terminal of a financing agreement of 150,880,000,000 CFA francs (equivalent to 230,000,000 euros) for the extension of the Container Terminal of the Autonomous Port of Pointe Noire (PAPN).

This achievement was made possible thanks to a bank round led by Crédit du Congo and Attijariwafa Bank as arrangers, and composed exclusively of Congolese participating banks: Crédit du Congo, EcoBank, Banque Commerciale Internationale, Banque Sino-Congolaise pour l'Afrique, BGFIBank Congo. Other expressions of interest from banks and international institutions have been made on this project, reflecting the overall interest in the project.

This financing will enable the construction of a new 750-linear metre quay in 2027, with a surface area of 28 ha and a depth of 17 metres. The three-year work represents a total cost of 361 million euros. This strategic investment aims to strengthen the operational capacity of Congo's only maritime outlet and will support the economic development of the country and the sub-region.

The presence of the country's main banking players testifies both to the capacities of Congolese financial institutions and to their confidence in the stability and potential of Congo Terminal. Crédit du Congo played a central role in structuring the financing and coordinating efforts between partner banks, thus facilitating the implementation of this ambitious project.

Congo Terminal, a joint venture between AGL, APM Terminals and SOCOTRANS, employs more than 900 permanent employees and is recognized as a company of national importance by the Central African Banking Commission (COBAC). Since 2009, it has been the exclusive concessionaire for the handling of container ships and ro-ro vessels at the autonomous port of Pointe-Noire. In August 2023, an amendment to the concession contract for the extension of the Terminal was signed in exchange for an increase in the duration of the concession until the end of 2050.

This expansion of the PAPN demonstrates the Congolese government's willingness to meet growing demand from the local and regional market and renews the confidence in Congo Terminal. This project will also have a major impact on the country's economic development, the development of local activities and the creation of jobs.

"The financing of a private sector project of this magnitude is a first. Its completion testifies to the commitment of local banks to support the country's economic growth, thus benefiting our customers, the local community and all the economic actors involved," said Hicham Fadili, Chief Executive Officer of Crédit du Congo.

"This achievement marks a major milestone for Congo Terminal and for the development of the country's infrastructure. Thanks to this cooperation with all partners, the terminal will be able to accommodate the largest container ships, thus contributing to the fluidity of trade and the competitiveness of the Congolese economy on the international scene. " said Anthony Samzun, Managing Director of Congo Terminal.

"The Môle Est project is fully in line with the vision of the highest authorities of the State, in particular that of President Denis Sassou-Nguesso, who aspires to make the port of Pointe-Noire the reference transshipment hub for the entire sub-region. This project illustrates a successful public-private partnership and demonstrates the commitment of all stakeholders to promote the country's economic growth," said Séraphin BHALAT, Director General of the Autonomous Port of Pointe-Noire.

About Congo Terminal:

Congo Terminal, a subsidiary of AGL (Africa Global Logistics), is the exclusive operator of the handling activities of container ships and ro-ro vessels calling at the port of Pointe Noire. The company is engaged in a public-private partnership that allows it to meet the requirements of its shipowners, importers and exporters. Thanks to its many investments, Congo Terminal participates in the improvement of purchasing power and actively contributes to the fight against the high cost of living. Certified ISO 9001/2015, ISPS (security) and Pedestrian Free Yard (HSE) and Green Terminal, the company has state-of-the-art equipment and technologies including the Navis 4 operating system. Congo Terminal has exceeded the threshold of 1,000,000 TEUs handled per year since 2022 and employs nearly 900 Congolese employees. The company carries out solidarity actions in favor of youth, environmental protection and education. www.congo-terminal.net

About Crédit du Congo:

The second largest bank in Congo, Crédit du Congo offers a variety of commercial banking services to meet the needs of businesses and individuals. The bank works to support the national economy and promote local skills.