Omani contracting firm Hasan Juma Backer & Contracting (HJB) is investing US$700mn to build a dry port in Cote d?Ivoire, West Africa
Project officials stated that a MoU has been signed to carry out the project on a public-private partnership (PPP) basis.
The port will be a greenfield project, with facilities to store items such as fuels, liquids, cement, silos for food grains aside from a container component, stated HJB.
?The next step is to conduct feasibility studies and other groundwork before we come to the stage where work can actually begin,? said Krishnakumar Taore, HJB group managing director.
According to the firm, construction is likely to begin in six months to one year.
Financial partners will be contributing to the development of the dry port. Equity for the project will come from HJB, while the remaining amount will be financed by various banks that are part of a financial consortium, added Taore.
A report in the Oman Daily Observer stated that the dry port project is part of several projects undertaken by Gulf-based investors to develop infrastructure in Africa. These investors have contributed US$19bn towards energy, maritime, aviation and logistics that will
benefit the Members of the West Africa Economic and Monetary Union (UEMOA). The countries that form the UEMOA include Benin, Burkina Faso, Cote d?Ivoire, Mali, Niger, Senegal, Togo and Guinea-Bissau.