UAE company to invest 190 mln USD to modernize port in Angola
The Angolan government and Dubai Ports (DP) World, a United Arab Emirates (UAE) company, signed on Monday a contract of 190 million U.S. dollars to modernize the multipurpose terminal of the Port of Luanda.
DP World will invest overall 190 million dollars during the next 20 years, the company’s chairman and chief executive Sultan Ahmed bin Sulayem said at the end of an audience with Angolan President Joao Lourenco.
The UAE’s global port operator intends to leverage the activity at the Port of Luanda and use the connections worldwide to bring more investments to Angola, said the chairman, adding that the contract signed will transform the port into a gateway for the country and the region of large investments in technology, automation and digital platforms.
Angolan Minister of Transport Ricardo de Abreu, in his turn, said that the partnership with the UAE company will help improve Angola’s logistic capacity.
The agreement aims to promote the development and improvement of the efficiency of the port activity in Angola through the selection of a private operator of worldwide reference, the official added.
Angola and the UAE have cooperation in a wide range of sectors, including oil and gas, mining, trade and investment, energy, defense, transportation, agriculture, fishing, banking, telecommunications and finance.