UAE-based multinational logistics company DP World has signed a 20-year concession agreement with the Government of Angola, to run the Multipurpose Terminal (MPT) at the Port of Luanda, Africa.
The signing of the agreement follows an international tender process in which DP World was chosen by a committee appointed by the Angolan Ministry of Transport as the preferred bidder to enter into negotiations with the government for the concession. The MPT will be the first seaport terminal to be operated and managed by DP World on the western coast of Southern Africa. Furthermore, it will expand the presence of the company in Africa.
Under the deal, DP World will invest $190 million over the 20-year duration of the concession, with plans to rehabilitate the current infrastructure and acquire new facilities to bring operations in line with global standards and enhance the efficiency of the MPT. Further, it intends to increase the terminal’s annual throughput to about 700,000 TEUs annually.
This will be supported by a modern port management system, as well as further training and development of Angolan staff working at the terminal.
“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.”
Ricardo de Abreu, Minister of Transport of the Government of Angola said, “We understand that the performance of the Transport Sector in our country must count on key players such as DP World, to help us both modernize our infrastructure, as well as make it more competitive.”
“As Government, maintaining the jobs of workers assigned to the Terminal, the implementation of a training and capacity building plan in different areas by the concessionaire, and the inclusion of middle and senior Angolan staff in its decision-making structure, are some of the other gains from this relationship that we greatly appreciate,” he further added.
The largest port in the country, the Port of Luanda is situated in a natural bay in the capital of the country, Luanda. Its regional location, which makes it a mandatory stop on sea routes along the western part of the African continent, gives it the ability to take advantage of trade flows to the surrounding areas.