DUBAI: Global port operator DP World on Monday announced it has been selected as the preferred operator of a port terminal in Angola, and is set to invest $190 million in the African project over the next 20 years.
The announcement by WAM, the UAE state news agency, followed an international tender process.
The Dubai company will now begin discussions with Angola’s government to operate the Multi-Purpose Terminal (MPT) at the Port of Luanda.
“DP World plans to invest $190 million over the 20-year period of the concession, with plans to rehabilitate existing infrastructure and acquire new equipment to bring operations in line with global standards and improve the efficiency of the MPT,” WAM reported.
The operator plans to increase annual throughput at the port to 700,000 20-foot equivalent units per year.
The Port of Luanda handles both containers and general cargo, and has a quay of 610 meters with a depth of 12.5 meters and a yard of 23 hectares. It will be DP World’s first project on the western coast of southern Africa.
“We believe in Angola’s strong potential for further economic growth and are keen to play our role in the country's development,” said Sultan Ahmed bin Sulayem, group chairman and CEO of DP World.
“Angola’s location on the Atlantic Ocean in southern Africa means it has the opportunity to benefit from flows of trade into the surrounding region,” he added.
“DP World has a strong track record in Africa and across the world of operating ports and logistics businesses to the highest standards, creating trade corridors and contributing to the economic growth in the countries in which we work.”
Last week, DP World signed a deal to develop a new deep-water port in Senegal, worth over $1 billion and its biggest ever investment in Africa.