(Ecofin Agency) - Benin’s government will build in the Sèmè-Kpodji municipality, South West of Cotonou, a commercial deep-water oil and ore port. To this end, it has signed with Pic Network Limited of the Petrolin Group a public-private partnership agreement.

“The project will be fully funded by Pic Network Limited and Pic International SA,” reads the report of the latest ministers’ council.

The project which is estimated to cost hundreds of billions of CFA francs, will be developed over an area of more than 1,000 hectares. It falls under the Dorsal Spine or Epine Dorsale project.

In this regard, goals aimed through this project’s development include among others, “a more efficient response to needs for a global increase of goods transit capacities, and insuring complementarity with the port of Cotonou”.

Stressing on the importance of this project for Benin, the report states that “by signing of the convention for the construction of the Sèmè-Kpodji port, Benin is getting a precious and vital instrument that will help it achieve economic emergence”.

Fiacre E. Kakpo