New port development contract signed
Investment in ports
THE GAMBIA: The Government of The Gambia and the Gambian Port Authority have signed an agreement with the Turkish Port Operator, Albayrak, to rehabilitate the Port of Banjul and develop a new deep sea port in Sanyang.
The Albayrak Group already has a presence in Africa having undertaken the operations of Mogadishu Port in Somalia, which has a strategic location in East Africa, and Conakry Port in Guinea, the gateway of West Africa to the world.
The PPP deal was supported by Maritime and Transport Business Solutions (MTBS), a Dutch company specialising in financing, strategy and transactions within the maritime sectors, with a track record in facilitating partnerships in the African port sector.
The capacity and the infrastructure at the Port of Banjul is currently insufficient to accommodate demand, imposing severe restrictions to the growth of the Gambian economy. Therefore, the GPA started a trajectory, supported by MTBS, to select an internationally renowned operator. The operational capabilities and investment commitment of Albayrak will significantly improve the competitiveness of the Gambian port sector as well as the Gambian economy, to the direct benefit of the Gambia and its population.
PHOTO SOURCE: MTBS Website
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