The Freeport of Monrovia in Liberia has officially opened its newly completed 600 meter (about 1,969 foot) wharf.
The opening ceremony was attended by Ellen Johnson-Sirleaf, president of Liberia, and members of her administration, as well as senior executives of APM Terminals, Freeport of Monrovia’s operator.
APM Terminals signed a 25-year deal with Liberia in 2010, representing the first 100 percent-owned port concession for APM Terminals in Africa. A three-year deadline for the completion of the new quay was stipulated in the Monrovia concession agreement, which was concluded on the build-operate-transfer model.
The next stages of the port modernization project comprise infrastructure investments at the 42 acre site, including roadway reconstruction, yard paving, new offices and gates and cargo-handling technology to increase capacity and efficiency, said Soren Jakobsen, APM Terminals’ head or project implementation, in a written statement.
APM Terminals will also invest about $120 million over the 25-year term in improvements, equipment and training, as well as an additional $25 million beyond what is required in the agreement to upgrade the container yard, buildings, gates and safety activities, Jakobsen added.