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.



Saudi EXIM Bank, DL Hudson Sign $50 Million Credit Facility Agreement

The agreement was signed by Director General of the Finance Department at Saudi EXIM Bank Eng. Abdulatif Al-Ghaith and Chief Operating Officer of DL Hudson Limited Moises Portillo, in London. (SPA)
The agreement was signed by Director General of the Finance Department at Saudi EXIM Bank Eng. Abdulatif Al-Ghaith and Chief Operating Officer of DL Hudson Limited Moises Portillo, in London. (SPA)
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Saudi EXIM Bank, DL Hudson Sign $50 Million Credit Facility Agreement

The agreement was signed by Director General of the Finance Department at Saudi EXIM Bank Eng. Abdulatif Al-Ghaith and Chief Operating Officer of DL Hudson Limited Moises Portillo, in London. (SPA)
The agreement was signed by Director General of the Finance Department at Saudi EXIM Bank Eng. Abdulatif Al-Ghaith and Chief Operating Officer of DL Hudson Limited Moises Portillo, in London. (SPA)

The Saudi EXIM Bank signed Sunday a $50 million credit facility agreement with DL Hudson Limited, aiming to promote the growth of Saudi non-oil exports by connecting local exporters with international buyers in over 22 markets worldwide.

Under the agreement, Saudi EXIM Bank, through its International Buyer Finance Product, will provide financing to DL Hudson Limited to purchase Saudi products and distribute them to customers across various global markets.

The agreement was signed by Director General of the Finance Department at Saudi EXIM Bank Eng. Abdulatif Al-Ghaith and Chief Operating Officer of DL Hudson Limited Moises Portillo, in London.

Al-Ghaith said: “This agreement comes within the framework of the bank's endeavor to provide financing solutions that contribute to the development of Saudi non-oil exports and boost their competitiveness in global markets.”

He highlighted the “agreement's role in promoting exports across several key national economic sectors and creating new trade opportunities for local exporters by linking them to many global markets.”

Saudi EXIM Bank, a development bank under the National Development Fund, plays a key role in diversifying the Kingdom’s economic base.

It strengthens the export system for national non-oil products and services by addressing financing gaps and minimizing export risks. These efforts support the growth of the non-oil economy in line with Saudi Vision 2030.