The African Development Bank has approved a €60 million loan (US$84.9 million) for the construction of a new container terminal at Togo’s Lomé port, a major gateway into West and Central Africa.
A Togolese company, Lomé Container Terminal S.A., will execute the project, which involves the construction, development and operation of a new transshipment container handling terminal in the Gulf of Guinea, the AfDB announced July 15. LCT’s owner, Global Terminal Limited, holds the sixth largest portfolio of container terminal assets in the world together with its sister company Terminal Investment Limited, according to the International Finance Corp.
The project will be executed under a 35-year concession agreement and is expected to add an annual handling capacity of 1.5 million 20-feet container units to the port’s existing capacity of around 221,000 container units. The expansion is aimed at meeting the increasing demand not only from Togo, but also from Burkina Faso, Niger and Mali.
The project is also expected to “catalyze further regional integration” by stimulating “competition in the regional shipping and logistics market,” the AfDB says.
Check out projects related to the Lomé port.
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