DP World has signed a 20-year concession agreement with the Government of Angola to operate a terminal in Angola.
The signing of the agreement to operate the Multipurpose Terminal (MPT) at the Port of Luanda follows an international tender process in which DP World was selected as the preferred bidder to enter into discussions with the Government for the concession. DP World will invest US$190m over the 20-year concession period.
Sultan Ahmed bin Sulayem, group chairman and CEO of DP World, 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."
A first for DP World
The MPT will be the first seaport terminal located on the western coast of Southern Africa to be operated and managed by DP World, and will further extend the company's footprint in Africa.
Under the agreement, DP World will invest US$190m over the 20-year period of the concession, with plans to rehabilitate the existing infrastructure and acquire new equipment to bring operations in line with global standards and improve the efficiency of the MPT, as part of the broader aim of increasing the terminal's annual throughput to approximately 700,000 TEUs per year. This will be supported by a modern port management system, as well as further training and development of Angolan staff employed at the terminal.
The MPT handles both containers and general cargo, and has a 610m pier, a depth of 12.5m and a 23-hectare yard.
