Dubai: DP World, the ports operator, makes its second big push into Africa in days, by being made preferred bidder for a 20-year concession to operate a terminal in Luanda.
It follows an international tender and subsequent announcement last month of DP World's selection by the evaluation committee set up by the Angolan Ministry of Transport. DP World and the Angolan Government then entered into formal discussions on the concession agreement.
DP World plans to invest $190 million over the 20-year period of the concession, with plans to rehabilitate existing infrastructure and acquire new equipment. The plan is to raise annual throughput to around 700,000 TEUs per year.
The terminal at the Port of Luanda handles both containers and general cargo. It has a quay of 610 meters with a depth of 12.5 meters and a yard of 23 hectares. This will be the first seaport terminal located on the western coast of Southern Africa to be operated and managed by DP World.
It was last week that DP World announced details of its 50-year concession agreement for the Port of Dakar and committing to investments of Dh4 billion plus. The two 25-year terms starts once operations begin at the new port, according to the addendum to an existing concession signed in 2017.
DP World is also in the running for the management of Haifa Port in Israel.