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DP World May Develop $1.2 Billion Port at Banana on Congo Coast

  • State-owned company plans to build, operate deep-sea harbor
  • Congo’s relies on neighboring country for sea-bound trade

DP World Ltd. may develop a $1.2 billion deep-water port in the Democratic Republic of Congo, according to documents published by a Senegalese whistle-blowing organization.

DP World signed an agreement with the Transport Ministry in February 2017 giving the Nasdaq Dubai-listed company exclusive rights to negotiate a contract to build and operate a deep-water harbor at Banana on Congo’s Atlantic coast. The accord, released by the Platform to Protect Whistleblowers in Africa on Friday, calls for the creation of a company majority-held by DP World.