MEP Infrastructure Developers, through its wholly-owned subsidiary Victory Infra, has entered into an agreement with Yellowstone DRC SARL, a private firm in the Democratic Republic of Congo (DRC), to maintain, operate, and manage a dry port. The Kasumbalesa Dry Port, situated near the DRC’s border with Zambia, will serve as an inland terminal connected to African maritime ports, alleviating congestion at the border and functioning as a container terminal.
The contract, estimated to last for 24 months, falls within the range of $115 million to $130 million. Following the announcement, MEP’s shares surged by 17 percent and closed at 11.8. The subsidiary’s identification as the preferred engineering, procurement, and construction (EPC) contractor for the Kasumbalesa Dry Port marks another milestone for MEP Infrastructure, a prominent player in toll collection, road maintenance, and infrastructure development.