Conakry, Guinea – The French group, Vincent Bolloré, on Friday in Conakry, promised to release 500 million Euros over 25 years in its bid to take the autonomous port of Conakry (PAC) to “an international and respectable level”, Guinean national television reports. The French group, which promised to release 150 million Euros between 2011-2013, signed an agreement on the concession for the containers terminal after the government Tuesday revoked its contract with Getma International, entered into in 2008.

Bollore, second behind Getma in the 2008 bidding for the port, has promised to quickly make PAC a reference point for Mali and Burkina Faso, two landlocked countries, and to develop transhipment activities.

The contract with Getma was terminated for “failure to honour the obligations of the concession”.

Sources say that since the beginning of its activities in 2009, Getma only generated a net profit of 28 million Euros.

Pana 13/03/2011