Signature of an amendment to the concession contract for the container terminal of the deepwater port of Kribi

This Monday, September 26, 2022, the Kribi Port Authority (PAK) and Kribi Containers Terminal (KCT) proceeded to the signature of an amendment to the concession contract of the container terminal of the deepwater port of Kribi.

During the meeting, the parties took stock of KCT’s achievements since its commissioning in 2017 and defined the financing modalities of the 2nd phase of the Kribi Industrial-Port Complex project which will materialize at the end of the 1st semester of 2024 with the construction of a new 715 meter quay, a land area of more than 30 hectares, and the acquisition of 5 new quay gantries and 15 park gantries.

The objectives of this amendment are to

• To revitalize the PAK/KCT partnership, in particular by maintaining a competitive tariff level despite inflation, by adjusting the investment program and by redefining the traffic forecasts in accordance with the volumes and typology of traffic recorded to date;
• Confirm the concessionaire’s commitment to financing Phase II;
• Adapt the commitments of the public party to the reality of infrastructure development;
• Update the operating and development plan of the Terminal by placing the port of Kribi in the new post-COVID 19 world port environment.

“We are very pleased with the signing of this amendment and we reiterate our willingness to invest in this port which is a regional logistics tool of the first order. We are enthusiastic about the development prospects offered by the industrial port complex. I recommend to all those who have not yet positioned themselves in Kribi to hurry up and participate in this great logistics adventure at the service of the socio-economic ecosystem,” said Serge Agnero, Regional Director of Bolloré Transport & Logistics for the Gulf of Guinea.

“The signing of this amendment confirms the common ambition that the port authority and the shareholders of the container terminal have for the development of the Kribi industrial port complex, a strategic investment of the Cameroonian authorities. With the continued growth in volumes recorded this year, the Kribi terminal is asserting itself as the main entry point for goods for Cameroon and the sub-region. The investments of phase 2 will therefore allow us to reinforce this dynamic for the benefit of local economic actors,” said Olivier De Noray, Chairman of the Board of Directors of KCT and Managing Director of Ports and Terminals of Bolloré Ports.

Indeed, the port of Kribi will be able to triple the capacity of the container terminal to reach the threshold of one million containers handled (TEU) and confirm its status as a reference hub for the economy of Cameroon and the sub-region. The number of jobs and skills will increase, as well as an improvement in the development of social services for the population.