Finance

Moroni Terminal embarks on a 5 billion Comorian Franc investments programme

Wednesday, 06 July 2022 12:48
Moroni Terminal embarks on a 5 billion Comorian Franc investments programme

(BOLLORE ) - On Thursday 30 June 2022, the Union of the Comoros and Moroni Terminal signed the amendment to the concession agreement for the Port of Moroni container terminal.

The amendment was signed by Bianrifi Tarmidi, Minister of Maritime and Air Transport, Mzé Abdou Mohamed Chanfiou, Minister of Finance, Budget and Banking, and Ahmed Ali Bazi, Minister of Economy, Industry, Investments, and Economic Integration, of the one part, and by Olivier De Noray, Managing Director of Bolloré Ports and Terminals, of the other part.

The amendment to the agreement provides for the implementation of a 5 billion Comorian franc (CF) investment plan (€10 million). In particular, it will enable the modernisation of the infrastructure and equipment at Moroni Terminal to be continued, and surveys to be launched with a view to extending the large quay at the Port of Moroni.

"We are pleased that the amendment to the Moroni Terminal concession agreement has been signed today. This is the beginning of a new phase, with new projects that we will implement. We will continue our investments to modernise Moroni Terminal with a two-fold objective: to improve the terminal’s productivity and to reinforce the positive impact of its activities on the Comorian economy,” said Didier Vandenbon, Managing Director of Moroni Terminal.

“The Union of the Comoros has embarked on a major programme to promote the country's development by 2030. Our investment is in keeping with these objectives and will support the structural transformation of the Comoros economy by positioning Moroni Terminal as a strategic infrastructure for developing international trade and supporting its subsequent development.” said Olivier de Noray, Ports and Terminals Managing Director of Bolloré Ports.

The signing of this amendment is in line with the "Comoros Emerging Plan" (Plan Comores Émergent, PCE) which formalises the 2030 development vision of President Azali Assoumani. This plan is based on five strategic bases and aims to achieve a structural transformation of the Comorian economy and to finance the expansion of sectors likely to accelerate growth in the Comoros, including transport infrastructure.

About Moroni Terminal

Moroni Terminal, a key player in the Comorian supply chain, has provided terminal handling services at the Port of Moroni since May 2012. The company has already invested more than CF 5 billion (€10 million) to improve its operational capabilities. Between 2012 and 2021, the volume of containers handled increased by more than 20% thanks to these investments. Moroni Terminal currently employs about 200 people and generates more than 800 indirect jobs through its operations. Moroni Terminal is also determined to pursue its commitments in terms of CSR & philanthropy in the Union of the Comoros.

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