Since the start of last year, there have been over 80 important port construction projects. The net investments in these projects amount to over $39 billion. The new investments came at a time when the global ocean freight shipping industry was reeling under the impact of a pandemic, labour shortage, container shortage, and lack of capacity. Taken together the 10 most expensive port projects amount to nearly $22 billion. In today’s post, we will discuss some of the most expensive port construction endeavours that aim for the seamless functioning of the international ocean freight shipping industry.
Ramayapatnam Seaport Development, India
India is creating a new port at Ramayapatnam, Andhra Pradesh. The objective of this investment is to facilitate the commercial transaction of all sorts of commodities. The $1.4 billion project is one of the most expensive port projects in the country in the last year. The authorities are creating a new port over an area of 890 ha. To start with, there will be a port construction over 324 ha of land. Additionally, the project also includes the construction of distribution centres, new access roads, storage facilities, load/unloading facilities, and the creation of a high-end security system. The Andhra Pradesh Maritime Board will oversee the development of this port. The construction of the port is scheduled to be completed within another two years.
Map Ta Phut Industrial Port Development Phase III, Thailand
The IEAT (Industrial Estate Authority of Thailand) is spending $1.7 billion on expanding the deep-sea port in Rayong, Thailand. The objective of this project is to boost the ocean freight shipping industry in Thailand by increasing the imports for the Thai petrochemical sector. Once completed this port will expand the volume of LNG imports from 10 million tonnes to 62 million tonnes annually. This port will act as a gateway to facilitate more trade between ASEAN and the global community. Apart from creating a deep-sea port on an area of 160 ha, the project also encompasses the creation of warehouses, raw liquid material terminals, natural gas terminals, and a service terminal. The expanded port will make way for the expansion of the Thai petrochemical industry.
Grand Al Faw Port Container Terminal, Iraq
Iraq’s Al Faw Port is all set to become the largest port in the Middle East. Last year, Daewoo Engineering and Construction won a $2.7 billion contract to build this port. Most importantly, this project entails the creation of one of the world’s longest subsea tunnels that will connect it to the Umm Qasr Port. They will also construct new roads to ensure better connectivity with Basra. Even though its capacity will not compare to the mega port of Asia like Singapore or Shanghai, the Al Faw will be greater than Dubai’s Jebel Ali Port in terms of the number of berths.
Moreover, the project also involves the creation of a container terminal for handling 99 million tonnes per year. To quote Khaled Battal Al-Najm, Iraq’s Minister of Planning, this project represents “a real start for Iraq’s economic renaissance.” The Grand Al Faw will open “broad trade horizons, between Iraq and the world.”
Barra do Dande Port Development, Angola
The Sonangol Group is gearing up to construct a port in Barra do Dande, Luanda. This is one of the most expensive projects in the ocean freight shipping sector of Central Africa. This new international port at Angola will also double up as a global warehouse for the shippers. The project entails the building of an embankment space of 1050 ha, a logistics area of 468 ha, and an 18 km long quay wall. Furthermore, there are plans to create solid and liquid bulk terminals, multi-use terminals, container terminals, and a separate area for oil and gasses.
Dakhla Atlantique Port Complex, Morocco
The ANP (Agence Nationale des Ports) is set to start construction of the Dakhla Atlantique Port Complex, near the existing Port of Dakhla Morocco. This strategic project will boost the area’s economy by bolstering the industrial energy sector. Moreover, it will improve export/import resulting in the socio-economic development of the Oued Ed- Dahab-Lagouira region. The project entails the creation of a commercial port, a fishing port and fishing quay, a trade quay, warehouses, container terminals, logistics area, parking, sheltered dock, and administrative buildings.
Sorong Port Development, Indonesia
Indonesia is building an international port in Sorong, Seget district, West Papua, Indonesia. The aim of this project is to strengthen the ocean freight shipping industry and boost the heavy motor cargo capacity in this area. The net value of this project is estimated at $1.8 billion. They are planning to create a new port with 2.95 TEUs along with a 50 ha container yard. Additionally, they are also planning to build a stacking yard of 8 ha, a storage area, container terminals, administrative buildings, quay walls, and a 340-meter long pier. The international port will tremendously benefit the economy of the West Papua region. This is very important since so far West Papua had to export their commodities indirectly after sending them to another port.
Cherchell El Hamdania Port Development, Algeria
The Port of El Hamdania, in Cherchell, will become Algeria’s largest port and the second deep-water port in Africa. Located just at a distance from the capital Algiers, this port is well-connected to the rest of the country. With a net investment of over $6 billion, this is one of the most expensive port projects on the continent. On completion, it will stretch over an area of 1,032 ha with another logistics area of 2,600 ha. Additionally, the port authorities are also building a deep-water seaport of 2000 ha that will be the country’s largest and first deep-water port. With a capacity of handling 6.5 million containers annually, this port will act as a regional hub for North Africa in the Mediterranean, that could compete with the Tangier-Med Port in Morocco.