Luanda - The United Arab Emirates ADP-Abu Dhabi Ports business group is to invest 251 million US dollars for the modernization of the Port of Luanda multipurpose terminal to boost the development of the logistics business in Angola, the Minister of Transport Ricardo Viegas D`Abreu has said.
The minister made the statement at the end of the signing ceremony of the agreement for the concession of the joint venture terminal between Unicargas (then operator), Multiparques, the Luanda Port Authority and ADP-Abu Dhabi Ports.
According to the minister, the investment could reach 410 million dollars over the term of the operation, something that will be determined by market demand, since its location is conducive to attracting investment for the expected growth in the country's container volumes, estimated at an average annual rate of 3.3 percent over the next decade.
The minister added that the terminal, with an area of more than 80,000 square metres, is the country's main maritime gateway and plays an important role in its economy, handling more than 76 percent of the nation’s container and general cargo volumes.
Ricardo D`Abreu also considered the Port of Luanda to be one of the main transshipment centers for West Central Africa, allowing maritime trade access to some of the continent's landlocked countries, namely the Democratic Republic of Congo and Zambia.
"These characteristics determined ADP-Abu Dhabi Ports' interest and decision to move forward with this partnership and become one of the major drivers of international maritime transport to and from our country," the minister said.
The minister said the agreements signed will expand and strengthen the Arab group's presence along the important trade route from Asia to southern and western Africa.
OPF/ASS/TED/AMP
