The agreement sees DP World, leading provider of smart logistics solutions, sign a 20-year concession agreement with the Angolan government to operate Port of Luanda's Multipurpose Terminal (MPT)
DP World, global provider of smart logistics solutions, has entered a 20-year concession agreement with the Angolan government to operate the multi-purpose terminal at the Port of Luanda.
The agreement was signed by chairman of Porto de Luanda, Ant?nio Bengue, and group chairman and CEO of DP World, Sultan Ahmed bin Sulayem.
The agreement follows an international process during which an evaluation committee selected DP World as the preferred bidder for the concession. The MPT will be DP World's first operational seaport terminal on the western coast of southern Africa.
DP World will invest US$190 mn over the 20-year period of the agreement, already planning to refurbish the existing infrastructure and acquire new equipment to modernise operations and improve efficiency. DP World aims to increase the terminal's annual throughput to around 700,000 TEUs.
Group chairman and CEO of DP World, Sultain Ahmed bin Sulayem, 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.?
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 modernise 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.?
The Port of Luanda is Angola's largest port, located in a natural bay of the country's capital. As a mandatory stop on the sea routes on the west of the continent means it benefits from trade flows into the surrounding region. The terminal aims to be developed into the largest of such facility in the country, handling containers and general cargo.