DP World Starts Construction of Banana Port in Congo

DP World and the Government of the Democratic Republic of the Congo laid the first stone to mark the start of construction of the new Banana Port. (DP World)
DP World and the Government of the Democratic Republic of the Congo laid the first stone to mark the start of construction of the new Banana Port. (DP World)
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DP World Starts Construction of Banana Port in Congo

DP World and the Government of the Democratic Republic of the Congo laid the first stone to mark the start of construction of the new Banana Port. (DP World)
DP World and the Government of the Democratic Republic of the Congo laid the first stone to mark the start of construction of the new Banana Port. (DP World)

DP World, the world's leading provider of smart logistics, and the Government of the Democratic Republic of the Congo (DRC), Tuesday laid the first stone to mark the start of construction of the new Banana Port.

The stone laying follows the signing of the collaboration agreement in December 2021 between DP World and the DRC Government to develop the first deep-water port in the country.

President of the DRC Félix-Antoine Tshisekedi said: "This is a proud and historic day for the DRC, as our vision to develop Banana Port to transform our country into a regional trade hub, becomes a reality."

"It will grow our economy by creating direct and indirect jobs, provide new opportunities in the supply chain and attract more foreign direct investment.”

Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, said: "Banana Port will be a modern, world-class port and undoubtedly a game-changer for the DRC."

"Once complete, it will attract more direct calls from larger vessels traveling from Asia and Europe, greatly enhancing the country’s access to international markets and global supply chains.”

DP World will develop an initial 600-meter quay with an 18m draft, capable of handling the largest vessels in operation. It will have a container handling capacity of about 450 000 TEUs (20-foot equivalent units) per year, and a 30-hectare yard to store containers.

The port is being developed at Banana, along the country’s 37km coastline on the Atlantic Ocean in Kongo Central province and following its completion, will provide significant cost and time savings that will boost the country’s trade.



Egypt Eyes Gas Production Increase

Egypt plans to increase natural gas production from several key concession areas, including its giant Zohr field, in 2025. (Getty Images)
Egypt plans to increase natural gas production from several key concession areas, including its giant Zohr field, in 2025. (Getty Images)
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Egypt Eyes Gas Production Increase

Egypt plans to increase natural gas production from several key concession areas, including its giant Zohr field, in 2025. (Getty Images)
Egypt plans to increase natural gas production from several key concession areas, including its giant Zohr field, in 2025. (Getty Images)

Egypt plans to increase natural gas production from several key concession areas, including its giant Zohr field, in 2025, Petroleum Minister Karim Badawi said on Monday.

The government aims to ramp up output at Zohr by drilling new wells starting in the first quarter of 2025, according to a ministry statement. Production from the field remained stable at around 2 billion cubic feet per day (bcf/d) in the fiscal year 2023-24, which ended in June.

Zohr, once a game-changer that turned Egypt from a net gas importer to an exporter, peaked at 3.2 bcf/d in 2019 but has since seen output decline to 1.9 bcf/d in early 2024.

The drop was mainly due to foreign oil companies’ hesitance to invest as Egypt accumulated billions in arrears. However, in August, Prime Minister Mostafa Madbouly announced that his government had a clear plan to restore and increase production levels in cooperation with foreign partners.

Egypt is also seeking to boost pipeline imports from neighboring Israel and Cyprus while exporting liquefied natural gas (LNG) through its two export facilities.

Additionally, Egypt signed a partnership agreement on Monday with Greece's Copelouzos Group to enhance the trade, transport, supply, and regasification of natural gas across Eastern Europe and Greece.