APM Terminals is a member of the Bolloré Africa Logistics’ consortium which has been selected to develop a new deep-water container terminal at the Port of Pointe-Noire, the largest deep water port in the Gulf of Guinea. In December 2008 the French-based Bolloré Group signed a €570 million ($735 million USD) 27-year concession agreement with the Congolese Government which provides for the modernization of Pointe-Noire, a natural gateway to the increasingly important Central African region.