Nairobi, May 13 -- France's CMA CGM has agreed to invest $820 million to modernise and expand two terminals at the Port of Mombasa under a co-operation framework with the Kenyan government.

The firm announced the deal, signed on the sidelines of the Africa Forward Summit in Nairobi earlier this week, co-hosted by Kenya's President William Ruto and France's Emmanuel Macron.

The investment will upgrade two Mombasa Container Terminals at a time when the port is seeing increased cargo flows. Last year, Mombasa handled 2.11 million TEUs, a growth of 5.5 percent from the previous year.

CMA CGM, present in Kenya since 2005, said the investment will raise cargo-handling capacity, strengthen regional trade corridors, and enhance Kenya's connect...