According to the agreement, DP World will invest nearly $190m over the stipulated period.
DP World was selected by an evaluation committee set up by the Angolan Transport Ministry as the preferred bidder after an international tender process.
The funds will be utilised for the restoration of the current infrastructure and acquisition of new equipment, which will enhance its efficiency and bring the port operations in line with global standards.
The modernisation project is expected to raise the terminal’s annual capacity to roughly 700,000 TEUs a year, reported Gulf Business.
Under the project, a modern port management system will also be installed and further training will be provided to the employees at the terminal.
Angola’s Minister of Transport Ricardo de Abreu was quoted by Gulf Business as saying: “Maintaining the jobs of workers assigned to the terminal, the implementation of a training and capacity building plan in different areas by the concessionaire, and the inclusion of middle and senior Angolan staff in its decision-making structure, are some of the other gains from this relationship that we greatly appreciate.”
The terminal at the Port of Luanda will be developed into the biggest facility of its kind in Angola.
Courtesy of Ship Technology – full article here