Gabon unveils new $300 million port harbour as part of economic diversification efforts

Gabon on Saturday officially inaugurated a new port harbour. The project is part of a plan to modernize the existing Port of Owendo located near the capital Libreville.

It took 18 months to complete at an estimated cost of $300 million. The port was constructed in partnership with Olam group from Singapore and will be partly managed by French logistics company, Bolloré.

“The idea was to make an effective port for the sub-region in comparison to what is happening. It’s very efficient for Gabon and will soon revive the economy and also reduce prices for goods passing through the port,” said Philippe Gery, Head of Port Operations.

The berth has been extended by more than 600 meters and now can accommodate several vessels. According to the port operator, this will boost its container handling capacity to about 3 million tonnes annually.

Authorities in the country say the port will play a key role in enabling Gabon to diversify its economy away from oil. Read more here.