This financing agreement of more than 16 billion FCFA signed on July 27, 2021 is part of the construction, operation, maintenance and rehabilitation of the storage areas of the Port of Douala (PAD) by the Management company of port stores, a subsidiary of the Turkish group Erdem, learned camerounactuonline.com from the newspaper EcoMatin.
This is one of the most important axes of the modernization plan initiated by the Autonomous Port of Douala (Pad) to make the Port of Douala a pole of attractiveness, competitiveness and performance. Concomitantly with securing the port area, rehabilitating the port road system, purchasing new technical and logistical equipment, strengthening the digitization of services or empowering services, the managers of the Autonomous Port of Douala are also emphasis on improving operating conditions for the benefit of the community of partner economic operators. In particular, the modernization of storage areas. The port institution can now begin this ambitious project. The Port Warehouse Management Company (Sgmp) was approached for this purpose. The subsidiary of the Turkish group Erdem has signed a related financing agreement with Afriland First Bank Cameroon.
The Financing Agreement amounting to 15.9 billion FCFA was initialed between the Erdem Group, Afriland First Bank Cameroon, and the Autonomous Port of Douala. It follows the one signed on October 26, 2020 between the Erdem Group and the Autonomous Port of Douala. Sgmp obtains, through this contract, the authorization to finance, build, operate, maintain and rehabilitate the storage areas of the Port of Douala, specifically those hold stores of the conventional terminal of this port area. “These activities also concern the operation and maintenance of the medians surrounding the hold stores at the Conventional Terminal of the Port of Douala-Bonabéri”, informs the PAD in the columns of the EcoMatin newspaper. After an operating period of 27 years, the Turkish subsidiary will return the facilities to the Autonomous Port of Douala by transfer.