Business
Signs Conakry Port Development Agreement
Signs Conakry Port Development Agreement.
About this update from Pacsco Limited
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 6808B Agriterra Ltd 23 February 2011 \n \n\nAgriterra Ltd / Ticker: AGTA / Index: AIM / Sector: Agriculture\n23 February 2011\nAgriterra Ltd ('Agriterra' or 'the Company')\nSigns Conakry Port Development Agreement\n \nAgriterra Ltd, the AIM listed company focussed on the agricultural sector in central and southern Africa, is pleased to announce that its wholly owned subsidiary, Agriterra Guinée SA ('AGSA') has signed a Concession Agreement with Port Autonome de Conakry (the Autonomous Port of Conakry, 'PAC') for the construction and operation of a 30 hectare industrial and commercial terminal in the East Zone of the Port of Conakry in Guinea ('the Port'). The 20 year Concession Agreement ('the Concession Agreement'), which may be renewed by agreement between the parties after its initial term, is part of the Company's strategy of expanding its operational activities within the agricultural and logistics business in Africa.\n \nUnder the terms of the Concession Agreement, AGSA has been granted a concession on 30 hectares in the East Zone of the port, for the construction and operation of a commercial and industrial terminal. This new terminal will include:\n \n· a 300 metre long dock; and\n· a 30 hectare platform, to be built by back-fill, to be used as a base for the operations of the terminal and associated activities. \n \nIt is anticipated that the terminal, when complete, will contain grain storage silos, a processing unit, a preparation unit, a logistics depot, a fuel depot, freight hangars and food storage silos.\n \nThe Board and management of Agriterra have an in-depth understanding of logistics and agriculture in Africa which will be utilised throughout the development process. Leading German international port consulting engineers and architects Inros Lackner AG has been engaged to assist with the project and is presently in the process of conducting an implementation and development study. It is envisaged that a construction partner and appropriate project financing will be secured to complete the project. \n \nConakry is an important West African hub and a gateway for trade into countries including Mali, Niger and Burkina Faso. Agricultural produce is transported through the port...