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Guinea-Bissau Berth (Mooring) Facility Industry Analysis
Guinea-Bissau, a small West African country, has a coastline of approximately 350 km along the Atlantic Ocean, making it an important hub for maritime transportation. The country's economy is primarily based on agriculture, fishing, and timber exports. However, the government has been taking steps to diversify the economy and attract foreign investments to boost growth and development in various sectors, including infrastructure.
The Cargo Berths construction projects industry is still in its nascent stage in Guinea-Bissau. The country's port infrastructure is underdeveloped, and the existing facilities are outdated and inefficient, making it challenging to handle large volumes of cargo. The Port of Bissau, which is the primary port in the country, has limited capacity and outdated equipment, which makes it challenging to handle large vessels. The lack of infrastructure and modern facilities at the port has resulted in high handling costs, long turnaround times, and delays in cargo clearance, negatively impacting the country's trade competitiveness.
However, the government is taking steps to improve the country's port infrastructure to boost trade and economic growth. In 2018, the government signed a contract with the China Harbour Engineering Company (CHEC) to construct a new deep-water port in Buba, south of the capital city, Bissau. The new port is expected to handle large vessels, including those that cannot be accommodated at the Port of Bissau. The project is estimated to cost around USD 800 million and is expected to take several years to complete. Once completed, the new port is expected to boost the country's trade competitiveness and attract more foreign investments.
In addition to the new port project, the government is also taking steps to improve the existing port facilities. In 2020, the government signed an agreement with the Spanish engineering company, Sacyr, to rehabilitate and expand the Port of Bissau. The project is expected to cost around USD 27 million and will involve the construction of a new quay, the expansion of the port's storage capacity, and the installation of new equipment.
The outlook for the Cargo Berths construction projects industry in Guinea-Bissau is positive. The government's efforts to improve the country's port infrastructure and attract foreign investments are expected to drive growth in the sector. The completion of the new deep-water port in Buba is expected to be a game-changer for the country's trade and economic growth. The improved port infrastructure is expected to attract more shipping lines and reduce the cost of handling cargo, making the country more competitive in the global market. The government's focus on improving the country's infrastructure and attracting foreign investments is expected to create new opportunities for businesses in the construction industry, including those involved in the Cargo Berths construction projects industry.
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