Port operator APM Terminals, a unit of Danish shipping and oil group A.P. Moller-Maersk, said on Wednesday it had signed a 25-year concession agreement to run the Port of Monrovia in Liberia.
“This will be the first 100 percent APM Terminals-owned terminal in Africa, which is a big milestone for us and represents the company’s positive outlook for the region,” Hans-Ole Madsen, head of business development for Africa, Middle East and Indian subcontinent, said in the statement.
The concession coincides with increased foreign investment in Liberia, including new concessions in mining, oil and gas exploration and production and agriculture, APM Terminals said.