Cameroon: Kribi deepwater port contract awarded to Necotrans consortium

(Agence Ecofin) - Cameroon has announced that it has awarded its Kribi deep-water port contract to a consortium led by French logistics group Necotrans.

The aim of the contract is to allow for the import and export of raw materials such as timber and cotton as well as vehicles and service equipment for Cameroon's oil and gas sector. Meanwhile a contract for the Kribi container port was awarded to a Bollore-led consortium last week.

The government is however rushing to get Kribi operational in order to ease congestion on the port of Douala, 150 kilometres to the north.

"As the only deepwater port in Central Africa, Kribi will be the economic lifeblood for Cameroon and the region, notably Chad and the Central African Republic," Necotrans President Gregory Querel told Reuters in a statement.

Necotrans' 20-year contract includes exploitation and maintenance. The company said it plans to invest 26.2 million euros ($29.56 million) on the site and aims to have it handle more than 3 million tonnes of freight annually.

Philippines-based ICTSI and port operator APM Terminals, a unit of shipping and oil conglomerate A.P. Moller-Maersk, were among those bidding for the same contract.