Angola to end Caioporto concession

The decision has been prompted by the fact that Caioporto’s main shareholder has been accused of irregularities in the management of the Sovereign Fund of Angola, which was one of the main financiers of the Caio port construction.

A negotiating committee, co-ordinated by the Ministry of Transport, has been set up by the government to remove Caioporto.

The $831.9m construction cost is being split between the Angolan state (through a Chinese state loan) and the concessionaire, which will find $124.8m, equivalent to 15% of the total.

The project is to be implemented in three phases. Initially, it is planned to build the overall infrastructure and a 100 hectare service area, as well as a 775 metre quay. This will be implemented by China Road and Bridge Corporation.