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Home > All news > Port > AD Ports Group secures a 20-Year agreement to operate and upgrade the existing Luanda Multipurpose Port Terminal in Angola

AD Ports Group secures a 20-Year agreement to operate and upgrade the existing Luanda Multipurpose Port Terminal in Angola

April 24, 2024
Reading Time: 2 minutes
AD Ports Group secures a 20-Year agreement to operate and upgrade the existing Luanda Multipurpose Port Terminal in Angola

ABU DHABI :AD Ports Group has signed several agreements with Unicargas and Multiparques securing a 20-year concession agreement (extendable for another 10 years) with the Luanda Port Authority for the operation and upgrade of the existing Luanda multipurpose port terminal in Angola.

The agreements with Unicargas and Multiparques, logistics and transport companies in the country, saw AD Ports acquire an 81% stake in a joint venture that will operate the terminal and a 90% stake in another joint venture that will serve the facility and the broader Angolan logistics market.

AD Ports Group has committed US$251 million towards the modernisation of the terminal and development of the logistics business over the next three years (2024-2026), with this investment potentially increasing to US$379 million over the concession term and in line with market demand.

The Port of Luanda is important in Angola’s domestic economy by handling more than 76% of the country’s container and general cargo volumes. It is well situated to capture the anticipated growth in the country’s container volumes, which are projected to rise at an average annual rate of 3.3% over the next decade.

Ricardo Daniel Sandão Queirós Viegas de Abreu, Angola’s Minister of Transport, stated, “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.”

Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “The milestone agreements we signed 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.” 

Joaquim Nazaré Pimentel da Piedade, Unicargas Management Committee Coordinator, said: “At Unicargas, we view our partnership with AD Ports Group as a transformative opportunity to leverage global expertise and resources, to accelerate the modernisation and expansion of the Port of Luanda and logistics infrastructure. Together, we are committed to unlock new potentials, foster economic growth, and establish Angola as a key player in the global maritime trade landscape.” 

Mohamed Eidha Tannaf AlMenhali, Regional CEO – AD Ports Group, said: “We are pleased to see these landmark agreements come to fruition, as Angola is a very important partner for our Group. We look forward to working with Unicargas and Multiparques’ local management and on-ground teams to leverage our respective expertise and capacities to ensure a smooth transition and bring new opportunities for business growth and development.”

Disclaimer: This information has been collected through secondary research and Daily Shipping Times is not responsible for any errors in the same.

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