DP World on Monday said it has signed a 20-year concession agreement with the Government of Angola to operate a multi-purpose terminal at the Port of Luanda.
The agreement was signed in Luanda by António Bengue, chairman of Porto de Luanda and Sultan Ahmed bin Sulayem, group chairman and CEO of DP World.
The terminal will be the first seaport terminal located on the western coast of southern Africa to be operated and managed by DP World and will further extend the company’s footprint in Africa.
Under the agreement, DP World said it will invest $190 million over the 20-year period of the concession, with plans to rehabilitate the existing infrastructure and acquire new equipment to bring operations in line with global standards as part of a plan to increase the terminal’s annual throughput to approximately 700,000 TEUs per year.
Bin Sulayem (pictured below) said: “We are delighted to sign the concession agreement and forge a partnership with the Government of Angola. Our entry into Angola and planned investment in the terminal, as outlined in the agreement, reflects our belief in the potential for further economic growth in the country.
“We look forward to playing our role in supporting the government to achieve its growth objectives through this key sector by leveraging our expertise, not just as a port operator, but also as a global provider of end-to-end logistics solutions.”
The largest port in the country, the Port of Luanda is located in a natural bay in the country’s capital. Its regional location, which makes it a mandatory stop on the sea routes along the west of the African continent, gives it the opportunity to benefit from trade flows into the surrounding region.
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