Public Management

Côte d’Ivoire : $1.4 billion to be invested in Abidjan port by 2020

Côte d’Ivoire : $1.4 billion to be invested in Abidjan port by 2020
Thursday, 28 February 2019 19:10

More than XOF800 billion ($1.4 billion) will be invested to extend and modernize Abidjan’s autonomous port in Côte d’Ivoire by 2020, the prime minister Amadou Gon Coulibaly indicates.  

In the framework of that project, Vridi canal inaugurated last February 21 has been resized. The infrastructure is estimated at $255,575,018 (about XOF150 billion), 85% funded by Eximbank China and 15% by the port.

Thanks to this infrastructure, Abidjan port will be able to receive all-size conventional container ships with a 16-meter draft while previously it was 12-meters and the max size of the ship it could receive before was 260-meters. This new configuration will also help reduce waiting times due to the canal being unable to receive some ships. It should also enhance the attractivity of this port.

Abidjan now wants to be a regional hub

During the inauguration of the canal, authorities expressed their ambitions for Abidjan port that takes care of 85% of international exchanges and provides 75% of customs revenues. Along with other large construction projects among which is the construction of a container terminal, Abidjan wants to become a regional hub.

"The enlargement and the deepening of Vridi canal helps reposition Abidjan port as a sub-regional hub in the maritime transport sector. These works will inexorably impact the port’s activities that will now be able to receive latest-generation vessels,” Amadou Gon Coulibaly said.

“Via those infrastructures, we want to be the main port on the African Atlantic coast between Tangier and Cape Town”, Hien Sié, the port’s managing director, declared.

Formerly the second container port on the African Atlantic coast after Lagos port in Nigeria, it was overtaken by Tema port (Ghana) some years ago and by Lomé port (Togo) in 2015, according to data from Dutch maritime analyst Dynamar.

With these important investments, Abidjan is thus trying to regain control of a market where the competition is getting tougher. For this purpose, it also has to tend to some problems like the high fees in Abidjan port. Indeed, according to the World Bank, the cost of a container transiting via Abidjan port is 59% higher at exports and 44% higher at imports.

Borgia Kobri & Zeinab Dosso 

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
WAEMU banking liquidity increased by CFA1,700 billion ($3.02 billion) in one year, according to BCEAO Governor Jean-Claude Kassi...
First National Bank Ghana secures $20 million BII loan to expand MSME lending Partnership targets wider credit access for MSMEs, key drivers of...
Nigeria lifts cash-deposit cap but keeps strict withdrawal limits with fees Banks face new reporting rules as CBN targets security, cost cuts and...
New law revises construction code and tightens insurance obligations All builders must obtain all-risk site coverage and 10-year liability...
Most Read
01

Camtel to launch Blue Money in 2026, entering Cameroon’s crowded mobile money market led by MTN Mo...

Cameroon: State Owned Telecommunication Company To Enter Mobile Money Market
02

Kossi Ténou succeeds Badanam Patoki as president of the AMF-UMOA. Ténou brings over 20 years of e...

Togo’s Kossi Ténou Appointed President of AMF-UMOA
03

JA Africa launches $1.5M digital safety program in four African countries Initiative to ...

Google.org, JA Africa to Train Children, Teachers and Caregivers in Digital Safety
04

Francophone Sub-Saharan Africa hosts 860+ startups but faces deep structural weaknesses EY urges...

Major Tech Reforms Needed for Francophone SSA to Attract More Investment, Report Says
05

Vodacom Tanzania launches M-Pesa Global Payments, enabling seamless international transactions thr...

Tanzania’s Mobile Money Goes Global: Vodacom Partners with Visa, Alipay, and MTN
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.