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APM Terminals flicks the switch at Freeport of Monrovia

APM Terminals flicks the switch at Freeport of Monrovia
APM Terminals has helped Liberian President Ellen Johnson Sirleaf shed new light - quite literally - on one of the West African nation’s key fiscal expansion strategies.

Sirleaf recently inaugurated a new navigation system at the Freeport of Monrovia, enabling 24-hour access to the country’s landlord maritime hub for the first time in three decades.

Previously, the absence of buoys, lighting and electronic navigation systems limited access at the port, built by the US Military for strategic purposes during World War II, to daylight hours. 

The new $500,000 investment including 12 off-shore buoys and two land-based range markers is a key milestone in APM Terminals’ $120m, 25-year concession agreement with the Liberian government for the privatization of the port.

 “The return to 24-hour accessibility to the port is another major milestone in the development of the Liberian economy as a global trading partner, and increases the ability of APM Terminals Liberia to serve the people and businesses of Liberia, and the region,” said APM Terminals Liberia managing director, George Adjei.

Around 350 vessels call at the Freeport of Monrovia annually and handles approximately 95% of Liberia’s trade.

This includes 800,000 mt of general cargo as well as container volumes of 98,000 teu in 2015.

Sirleaf is banking on rejuvenated trade policies and other reforms to help stimulate direct foreign investment into Liberia and increase port traffic as a result.

It comes on the back of Liberia becoming the World Trade Organisation’s (WTO) 163rd member nation on 16 December last year.

TAGS: Ports Regions