By Omar Bah
Albayrak Group, a significant player in port operations, will today commence construction of Gambia’s Port Expansion Project.
The Gambia Ports Authority, GPA, has come under pressure over its lack of adequate capacity to handle vessels, resulting in cargo bound for Banjul being diverted through Dakar, but the Turkish company will invest €20.5 million to upgrade the Banjul Port, Gambia’s sole commercial port, ensuring it remains operational while the new $1 billion Sanyang Port is under construction. The goal is to complete the new port within six years, with a 30-year operation plan in place. The strategic objective is to attract ships that had previously diverted to other ports due to Gambia’s outdated facilities.
Having won a bid last year against major companies from Saudi Arabia, France, and Morocco, Albayrak Group officially sign an agreement with the Gambia Government yesterday to manage the country’s most critical port. The project includes the modernisation of the existing Banjul Port and the construction of the new Sanyang Deep Sea Port.
GPA Managing Director Ousman Jobarteh said Albayrak Group’s comprehensive approach to port operations in Gambia promises to revolutionize the country’s maritime infrastructure while fostering economic growth and development across multiple sectors.
“The port expansion will ensure that the country poses the adequate infrastructure to be able to contribute more meaningfully towards national development and remain relevant within the competitive maritime trade and logistics ecosystem,” he stated.
The performance of the ports and its logistic chain, Jobarteh added, will contribute to lowering the overall cost of doing business across the whole value chain.
He said The Gambia like many developing countries rely on trade and logistics as major catalyst for development.
Mr Jobarteh said governments particularly in West Africa have all embraced the injection of private capital for the ownership and management of public ports due to the huge financial resources that are required to do so.
“This partnership is modelled along a guarantor and stakeholder arrangement where government and GPA is both the land lord and shareholder. The government and GPA will hold 20% equity and the investor will improve the efficiency of Banjul port within six years, and the concession is granted for 30 years for the construction, management, operation and hand back,” he said.
He said the government will receive payments for all the moveable assets at the Banjul port, receive percentage from the gross revenue in both Banjul and Sanyang and all staff that are currently involve in the operation will be maintained.
“We will also have seats at the board of management of the company. As part of the benefits, the Basse and Kaur inland ports will also be developed as part of the project and the Banjul shipyard upgrading will be included as well,” he added.
He said the lack capacity has continue to affect the ports service delivery.
Works Minister Ebrima Sillah said the port expansion will propel efficiency and significantly improve the turnaround time of doing business at the Banjul port.
“We also expect the introduction of cutting-edge technologies from the very start of the contract for enhancing operations. We are even more excited that for the first in the history of this country, we will have a Deep-Sea Port which will see The Gambia as one of the biggest players in the maritime and blue economy ecosystem,” Minister Sillah said.
He said the expansion also comes with unlimited economic opportunities and a lifetime employment opportunity for various sections of “our population”.
Sanyang $1bln port
The $1 billion Sanyang Port project which aims to handle container terminal operations, general cargo, Ro-Ro, dry bulk, and liquid bulk operations will be developed in three phases with investments of €253 million in the first five years, €145 million between 2029 and 2038, and €207 million from 2039 to 2053, totaling €605 million. The final investment is expected to reach €850 million, potentially hitting the $1 billion mark. The development at the Sanyang port will include restaurants, museums, and other social amenities, making it Gambia’s most luxurious and modern project.
