Ivory Coast's port of San Pedro is seeking 777 billion CFA francs ($1.65 billion) in private funds to finance its expansion and upgrading aimed at making it one of West Africa's top shipping hubs.

The government plans to make the port of San Pedro the centrepiece of the development of the country's predominantly agricultural western regions.

Gaoussou Toure, Transport Minister of Ivory Coast, stated:

The port of San Pedro is our next development and growth hub, because it is from San Pedro that we will export iron and nickel ore.

The project involves the construction and finance of a new 500 billion CFA franc terminal to handle ore exports, a second container terminal, which is expected to cost about 260 billion CFA francs and a multipurpose terminal, which will cost an additional 17 billion CFA franc.

According to sources, San Pedro partnered with Port of Antwerp International (PAI), a subsidiary of Antwerp's port authority, in 2012 as part of efforts to secure $230 million in financing from private investors.

San-Pédro is a city in southwestern Ivory Coast. It is the nation's second largest port, the center of the San Pedro Department, and the capital of the Bas-Sassandra Region.