Port of Caio to increase Angola trade by 30%
Port of Caio will begin operating in 2019 and is expected to increase Angola’s trade by at least 30%.
A public-private partnership (PPP) led project, the port is expected to boost cargo handling capacity to make exports easier and more cost-effective and create around 1,600 direct operational jobs.
Jean-Claude Bastos de Morais, major shareholder in Port of Caio, commented: “Africa’s significant infrastructure needs can be addressed by embracing the PPP model, which will help attract more private investment in sectors such as ports, roads and highways.”
The port is one year ahead of schedule and is being supported by the Government of Angola, Ministry of Transport, Provincial Government and China’s Export-Import Bank.
China Road and Bridge Corporation (CRBC) has been contracted to build the port facilities and have hired local labour to construct and build the port.
Scheduled to open in the first quarter of 2019, the port represents a transformational shift in the country’s transport and logistics capabilities.
Once completed, Port of Caio is anticipated to be a major trade gateway between Angola and the rest of Africa and globally.
The port project was launched in 2007. After a five-year investment period, management company Caioporto SA was given the go-ahead to proceed with the design, financing, construction, operation and maintenance of the port.
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