Seaport in São Tomé and Príncipe to be built this year

14 February 2012

Luanda, Angola, 14 Feb – São Tomé and Príncipe Prime Minister Patrice Trovoada has guaranteed that construction of a port or quay in São Tomé will begin this year with or without the French company CMA-CGM, reports the state newspaper Jornal de Angola.

CMA-CGM is one of the world’s biggest container cargo transport companies. Via its Terminal Link subsidiary it signed in 2009 an agreement with the São Tomé and Príncipe government to build a deepwater port in the Fernão Dias area.

The work, estimated at US$500 million, should have begun in 2009 but has been continually postponed. Patrice Trovoada recently stated that the French company’s inability to obtain sufficient financing to build the port was the major problem blocking the project.

He added that his many trips to Dubai are related to government efforts to seek financing sources, as the port is considered a key project for the country’s development.

“We hope the French company can accomplish what it signed by July or August. If after August nothing has happened then we’ll have to adopt other options for Fernão Dias,” Trovoada said. (macauhub)