CMA CGM, Djibouti to build 2.4 million TEU capacity terminal

CMA CGM and the port of Djibouti are examining the feasibility of building a new container terminal with an initial annual handling capacity of 2.4 million TEU that would effectively raise the total port capacity to four million TEU.

In an interview with Reuters at the Africa CEO Forum in Abidjan in Ivory Coast, chairman of Djibouti port Aboubaker Omar Hadi said the port's expansion would initially cost US$660 million.

The port authority expects to award the concession in July and commence the construction work in September and complete it in 28 months, reported London's Port Technology International.

The port authority is also prepared to buy out DP World's 33 per cent stake in its Doraleh Container Terminal to settle its conflict with the port operator and avoid arbitration.

Source: Schednet

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