The Managing Director of APM Terminals, Mr. George G. Adjei, has disclosed that the firm has reconstructed a 600 meter quay at the Freeport of Monrovia with a 50-year warranty.
He said that the quay project was completed three months ahead of schedule at a cost of US$50 million and is in compliance with the Concession Agreement it signed with the Liberian Government.
He made the disclosure Monday at the Free Port of Monrovia at a program marking the ground breaking ceremony of the Phase 2 Development Project undertaken by the APM Terminals.
Mr. Adjei indicated that the ceremony marked the commencement of a US$34.5million terminal modernization program which is expected to be completed in 23 months.
He said the project will include state- of-the-art Safety features, a new Administration and Operations building, Yard Pavement, New Cargo Gates, Real Time Updates of Container Movements; Conventional Drainage System; Biometric Access Control System, Close Circuit Television system and a GPS base container location system.
Mr. Adjei, noted that when completed, the terminal will have a storage capacity of over 10,000 TEUs well positioned to serve the Liberian economy as well as the transit trade.
He disclosed that during the construction period, the existing container stacking area will become more compressed, resulting in block-stacking of containers and increased yard density.
Mr. Adjei noted that, simultaneously, APM Terminals Liberia’s import cargo volume has increased by 33 percent as of the first half of 2015 compared with the same period in 2014.
He told the gathering that the reduced yard space resulting from the construction and the recent surge in volumes, will undoubtedly adversely affect their service delivery during the course of the project.