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Kribi Container Terminal (KCT) has recently signed a CFAF 12 billion loan agreement with SCB Cameroun, the local subsidiary of Moroccan banking group Attijariwafa Bank. This is the second loan contracted by KCT in the space of one month. In June 2023, the terminal concessionaire signed a loan agreement with the local subsidiary of the French group Société Générale. KCT is the concessionaire of the Kribi deep seaport’s container terminal.
Kribi Container Terminal (KCT) has recently signed a CFAF 12 billion loan agreement with SCB Cameroun, the local subsidiary of Moroccan banking group Attijariwafa Bank. This is the second loan contracted by KCT in the space of one month. In June 2023, the terminal concessionaire signed a loan agreement with the local subsidiary of the French group Société Générale. KCT is the concessionaire of the Kribi deep seaport’s container terminal.
Port Authority of Kribi (PAK), the state-owned company that manages the deep seaport of Kribi, states that the financing will help carry out works in the framework of phase 2 of KCT’s development project, which should double or even triple its operational capacity. In the framework of that second phase, KCT will settle at the second container terminal (710 meters), which is currently under construction. Currently, the concessionaire is operating the first (350 meters).
At the new terminal, KCT will make investments to significantly increase its capacity. To achieve this, the company aims to triple the number of quayside gantries from two, currently, to seven. It will also increase the terminal’s surface area from 14 hectares to 33 hectares, double the number of yard gantries from 10 to 20, and increase the number of tractors from 18 to 48, as well as the number of reefer slots in the terminal from 192 to 370. According to an authorized source, this will enable the terminal to increase its container handling capacity from 9,000 TEU (twenty-foot equivalent units) to 22,000 TEU.
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This increase in capacity will enable the container terminal to boost its business, which has been growing steadily since the launch of its activities on the Kribi port platform in March 2018. Indeed, according to data compiled by PAK, in its five years of operation, the container terminal has posted an average annual growth of 35% in cargo volumes. That’s 119% growth in import volumes, 63% in export volumes, and 35% in transshipment volumes.
