The Minister for Transport, Works and Infrastructure, Honorable Ebrima Sillah has described the Banjul Ports Concession project as the biggest foreign direct investments in the annals of Gambian history.
“Today is a momentous day in the annals of the history of The Gambia as we preside over the signing of the biggest foreign direct investment ever made in our dear country,” he said.
Minister Sillah made these remarks on Thursday during the signing ceremony of a US$1BN project with the Turkish Group Albayrak, for the expansion of the Banjul Ports and construction of a new twelve meters Deep Seaport at Sanyang at a ceremony held at the Sir Dawda Jawara Conference Center in Bijilo.
Minister Sillah further explained that the strategic orientation of this concession agreement will is not only to bring in efficiency in ports operational capability and service but will also accrue to the Gambia government‘s unlimited economic opportunities and lifetime employment opportunities for various sections of the population. He stated that the project is also expected to introduce cutting edge technologies from the very start for enhanced seamless operations at the Ports.
“We are even more excited that for the first time in the history of our dear motherland that we will have a deep seaport through which we will see ourselves as one of the biggest players in the maritime and Blue Economy ecosystem,” he said.
The Gambia‘s Works Minister Ebrima Sillah recalled that the concession negotiations have been ongoing since November 2023. He said the Draft in the channel at Sanyang Port is projected to be 12m deep and there will be lower cost of doing business with the capacity increases.
“Parties also agreed that deeper draft vessels will call to Sanyang attracting lower freight rates, the Gambia Government (GoG/GPA) will benefit with the improved port infrastructure, as well as receive payments for all the moveable assets in Banjul.
The GoG/GPA will receive payments from the gross revenue for both Banjul and Sanyang, GoG/GPA will receive payments in the form of dividends as a shareholder, all staff involved in the operations will be maintained,“ he revealed.
According to Hon. Sillah, the Basse and Kaur Inland Ports/logistics platforms will be developed as part of the project. The Banjul Shipyard development, he said, also forms part of the project investment scope, adding that the GPA will have seat(s) at the Board and Management of the Project Company.
“The investor will commit funds to improve efficiency in Banjul during the 6 years while the new Deep Seaport in Sanyang is being constructed,“ Minnister Sillah stated.
On his part, the Managing Director of Gambia Ports Authority Mr Ousman Jobarteh said currently the Banjul ports can accommodate ships of not more than nine meters(9m) because of the draft restrictions in the channel.
“The Sanyang port can accommodate bigger and gearless vessels which cannot come to Banjul port. This will increase volume of cargo and consequently make the of freight cheaper,” he said.
The Chairman of Albayrak group companies assured the Gambia government of his team’s commitment to ensuring that the project becomes a success.
Other speakers included the Commissioner General of Gambia Revenue Authority and Minister of Finance. Both officials registered their commitment to ensuring that the project becomes beneficial and successful for the country.
The event was graced by The Honorable Minister of Finance and Economic Affairs, HE the Turkish Ambassador to The Gambia, the PS of MOTWI & MOFEA, the PS of the Ministry of Civil Service; the Commissioner General of GRA; the Imam Ratib of Banjul and the representative of The Gambia Christian Council; the Chairman of the Albayrak Group of Companies, staff of GPA, among others.
