Kuldipsingh Port expansion

active

The project involves the expansion and modernization of the Kuldipsingh Port (KPF), a privately-owned cargo port in Paramaribo area, Suriname. Sponsor of the project is Kuldipsingh Group. The purpose of the project is mainly to expand the wharf and jetty, and the purchase of three parcels of adjacent land to KPF’s existing property. This will increase KPF’s capacity to handle general and breakbulk cargo and to service more vessels simultaneously. As a result, traffic is expected to increase 75% by 2030 to 480,000 tons, from around 275,000 tons handled in 2020. The remainder of the expansion project being financed by the company is the construction of an additional warehouse and office. They will also purchase additional equipment, including cranes, trucks and other lifting equipment. The $14.5 million financing was arranged by IDB Invest, which will also provide technical assistance to help KPF in the creation of an Environmental and Social Management System to make improvements in their environmental, health and safety, labor and other social practices. The project will contribute to three United Nations Sustainable Development Goals (SDGs): SDG 8, SDG 9 and SDG 17. Financial close was achieved on 15 June, 2023. https://www.idbinvest.org/en/news-media/idb-invest-supports-expansion-kuldipsingh-port-suriname