Battle For West Africa Hub Intensifies, As MSC Sinks $255Million Into Ivorian Port

Swiss liner; Mediterranean Shipping Company (MSC) has given the dream of Ivory Coast ports to be the hub of maritime activities in West Africa a boost. It last week signed a 35-year concession agreement to run a container terminal at San Pedro Port in Ivory Coast, according to Reuters.
As part of the deal it will undertake a massive upgrade to the container terminal, the Swiss shipping company said last week.
According to its financiers, with a total initial investment of about CFA 300 billion (USD 511.1 million), the project will allow the port to handle 14,000 TEUs cargo vessels and benefit from new shipping technologies, facilitating transhipment operations and generating vast opportunities to foster development.
The multinational shipping line also expressed optimism that the Port of San Pedro will become one of the most competitive transhipment hub of the region, the sub-regions as well as of the West African coast.
After the initial phase, where the existing infrastructure will be developed and expanded by San Pedro Port, MSC’s investment, of the expected amount of around CFA 130 billion (USD 221.5 million), will be allocated to provide the superstructure and equipment, including latest IT technologies.
“The signing of this agreement today will further strengthen the strong links between MSC and the government of Côte d’Ivoire,” Diego Aponte, MSC President & CEO, said.
“Our structural investment and operations will allow San Pedro to become a state-of-the-art terminal, increase trade relationship with new and traditional business partners as well as enhance its competitiveness at both the national and global levels,” Aponte added.
The concession agreement is signed just weeks after MSC celebrated its 15th anniversary in Côte d’Ivoire. Throughout this time, MSC has invested in container activities, including in San Pedro, and in inland transportation via its subsidiary; MEDLOG.