Dubai - Mubasher: DP World has inked a 20-year concession agreement with the government of Angola to operate and manage the Multipurpose Terminal (MPT) at the Port of Luanda.
Under the agreement, DP World will invest $190 million in the multipurpose terminal by improving the existing infrastructure, enhancing its efficiency, and bringing its operations in line with global standards, according to a recent press release.
By increasing the terminal's efficiency, DP World and the government of Angola seek to raise the terminal’s annual throughput to around 700,000 TEUs per year.
The MPT will be the first seaport terminal located on the western coast of Southern Africa to be operated by DP World.
The signing of the agreement came after DP World had been selected in an international tender process as the preferred bidder for the concession.
The Group Chairman and CEO of DP World, Sultan Ahmed bin Sulayem, said: "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."
Meanwhile, the Minister of Transport of the government of Angola, Ricardo de Abreu, remarked: "We understand that the performance of the Transport Sector in our country must count on key players such as DP World, to help us both modernise our infrastructure, as well as make it more competitive."
