Following two years of negotiations and mutual visits between Equatorial Guinea and the Albayrak Group, an important cooperation agreement was signed. The operation of the Malabo and Bata Ports was transferred to the Albayrak Group at a ceremony held in the capital on November 13.

Albayrak Group, one of Turkey's long-established organizations, is expanding its investments in Africa, which it started with the Somali Port in 2014, with a new port operation.

Albayrak Group, which attracted the attention of many African countries after its successful investments in Somalia Mogadishu, Guinea Conakry, Gambia Banjul Ports and Republic of Congo Pointe-Noire Port, signed a concession agreement with Equatorial Guinea.

In a ceremony held on the evening of November 13 in Malabo, the capital of Equatorial Guinea, the 25-year operation, modernization and development rights of Malabo and Bata Ports were transferred to the Albayrak Group, which left its major competitors behind in the international port tender.

At the signing ceremony, Albayrak Group was represented by Albayrak Group Chairman Ahmet Albayrak, Vice Chairman of the Board Nurettin Canikli, Board Member Hamza Albayrak, Albayrak Construction General Manager Yunus Y?lmaz and Legal Advisor Adnan Üçcan.

Turkey's Ambassador to Equatorial Guinea, Ahmet Ergin, also attended the ceremony.

On the Equatorial Guinea side, Prime Minister Manuel Osa Nsue Nsua, Minister of Transport Honorato Evita Oma and Minister of Finance Ivan Bacale Ebe Molina were present.

Albayrak, which began its operations in Africa in 2014 by acquiring the 20-year operating rights of the Port of Mogadishu, also commissioned the traditional sections of the Port of Conakry in 2018 and the Port of Pointe-Noire in 2024. The group also has 30-year operating rights for the Port of Banjul in Gambia and the Port of Sanyang, which will start in 2024. Equatorial Guinea became the 8th country in Africa where Albayrak operates.

Albayrak Group has previously operated in Somalia (construction), Guinea (urban transportation, cleaning services, airport renovation), Congo (waste management), Morocco (textiles), Libya, Gambia and the Democratic Republic of Congo.