Construction of deepwater port in Sao Tome and Principe to begin in 2011

15 January 2010

Sao Tome, Sao Tome and Principe, 15 Jan – Construction of the deepwater port in Sao Tome and Principe will only begin in 2011, one year later than planned, Oliver Tretout of the Terminal Link company has announced.

“Despite the downturn due to the international financial crisis, this project remains viable and solid,” Tretout told the Portuguese news agency Lusa on Thursday in Sao Tome, a day after meeting with the island country’s prime minister, Rafael Branco, with whom he discussed the project’s current status.

Preliminary work should begin this February, said Tretout, without providing further details.
Negotiations are still under way with the European Investment Bank, one of the project partners. The Terminal Link representative said “significant progress has been made.”

“Before we enter the construction phase, so to speak, there will be a number of technical jobs to do, besides finishing arrangements with the involved companies and potential project financers so that we can effectively begin the execution phase in 2011,” he added.

The deepwater port in Sao Tome and Principe “has no similarity whatsoever” and is not meant to compete with any other project of that nature in the Gulf of Guinea region, said Tretout, adding that the aim is “to complement other projects.”

The project’s overall price tag of US$570 million is to be “largely” financed by the group Terminal Link belongs to, though also by the African Development Bank (AfDB), French Development Agency (AFD) and World Bank (BM). (macauhub)