APM Terminals Signs Abidjan Terminal 2 Construction Project (Africa)
- Business & Finance
The APM Terminals-led consortium formally signed the agreement with the Government of the Ivory Coast on December 19, 2013 for the construction and operation of a new terminal at the Port of Abidjan.
Known as TC2, the terminal will be the second in operation at the port, which handled approximately 600,000 TEUs in 2012, making it one of the busiest container ports in West Africa. The new facility will offer 1,100 meters of quay with a depth alongside of 18 meters, able to accommodate vessels of up to 350 meters in length.
The project consortium is comprised of APM Terminals, Bolloré Africa Logistics and French-based construction firm Bouygues TP.
“There is a crucial need for port infrastructure here in West Africa and across the emerging markets to handle larger vessels and this is why we are making this investment as a commitment to Africa’s future” stated APM Terminals Head of the company’s Africa-Middle East Region, Peder Sondergaard.
The government of the Ivory Coast will be responsible for the construction and financing of the preliminary basic infrastructure, including dredging, canal expansion, land reclamation and the quay wall, at a cost estimated between USD 500 and USD 800 million. APM Terminals and its partners will design the new terminal to the specifications and the latest operational standards of the APM Terminals Global Terminal Network.
The TC2 facility will be equipped with 26 RTGs and nine STS cranes at full build-out, with an annual throughput capacity of 2.1 million TEUs and a 37.5 hectare (86 acre) yard.
The APM Terminals consortium plans to spend a total of CFA 300 billion (USD 600 million) over the 21-year concession term, including more than USD 400 million in the first five years (2013-2017). The terminal is scheduled to begin operations by early 2018.
APM Terminals, January 13, 2014