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DP World wins bid to operate multipurpose terminal at Port of Luanda

DP World Luanda_IFM_Image
DP World will invest $190 mn over the next 20 years to upgrade and maintain the port

Dubai-based port operator DP World has won a bid to operate the multipurpose terminal at the Port of Luanda, Angola, media reports said. DP World will invest around $190 million over the next 20 years in upgrading and sustaining the port.

The investment will also be used to increase efficiency in the port. According to DP World, the broader aim to increase annual throughput to 700,000 teu a year and will include the training and development of existing staff.

DP World has signed an agreement with the government of Senegal to develop a deep water port in the country, media reports said. The first phase of the port will require an investment of around $837 million.

In Phase 1, DP World will develop a new container terminal with 840m of quay and a new 5km marine channel designed to handle 366m vessels and capable of handling the largest container vessels in the world. While Phase 2 will create 410m of additional container quay and a further dredging of the marine channel to handle 400m vessels.

Sultan Ahmed bin Sulayem, group chairman and CEO of DP World told the media, “This will be DP World’s biggest port investment in Africa to date, and is a testament to our commitment to Senegal and belief in its potential for further economic growth. The new port will create jobs, attract new foreign direct investment to the country, and enable new trading opportunities that bring about economic diversification.”

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