AD Ports inks agreement to upgrade Angolan Port Terminal

AD Ports inks agreement to upgrade Angolan Port Terminal

AD Ports Group has secured a 20-year concession to manage and expand the multifunctional port in Angola after signing agreements with Unicargas and Multiparques.

The Group acquired an 81 per cent stake in a joint venture that will operate the terminal, as well as a 90 per cent stake in another joint venture that will serve the facility and the larger Angolan logistics market.

AD Ports Group has committed $251 million over the next three years (2024-2026) to modernise the terminal and expand the logistics sector, with the investment possibly expanding to $379 million during the concession period and in response to market demand.

READ: AD Ports surpasses $3 billion revenue in 2023

The Port of Luanda, Angola’s primary marine gateway along the corridor, reportedly plays a vital role in the country’s domestic economy, processing more than 76 per cent of container and general cargo volumes.

It is ideally positioned to capitalise on the anticipated development in the country’s container volumes, which are expected to increase at an average annual rate of 3.3 per cent over the next decade.

Furthermore, it acts as a major transshipment point for Central-West Africa, providing marine commerce access to landlocked nations such as the Democratic Republic of Congo and Zambia.

READ: AD Ports subsidiary unveils Saadiyat Marina & Ferry Terminal

Ricardo Daniel Sandão Queirós Viegas de Abreu, Minister of Transport, Angola, said: “The Port of Luanda is not just Angola’s main maritime gateway; it is a critical hub for regional trade and economic vitality.

“Through our strategic partnership with AD Ports Group, which is part of a broader effort involving multiple first-class stakeholders, we will transform the port into a modern, multi-faceted facility that will significantly enhance our logistic capacities and stimulate economic growth across Central-West Africa.

“This collaboration marks a significant milestone in our mission to modernise infrastructure and expand global trade access, promising a prosperous future for Angola and its partners.”

READ: AD Ports Group inks agreement with Angola’s Ministry of Transport

Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “The milestone agreements we signed today with our Angolan partners, deliver on last year’s framework agreement signed between AD Ports Group and the Government of Angola in the presence of His Excellency Sheikh Shakhbout bin Nahyan Al Nahyan, Minister of State for Foreign Affairs.

“Supported by the vision of our wise leadership, the multipurpose terminal will be modernised to attract business from leading global shipping lines and offer the highest levels of service efficiency and quality, thereby benefitting our nations, partners, stakeholders and customers.” 

This month, AD Ports announced that its Ports Cluster is expanding its business remit to the global distribution of marine lubricants.

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