Friday Nov 15, 2024
Friday Nov 15, 2024
Monday, 29 April 2024 00:42 - - {{hitsCtrl.values.hits}}
AD Ports Group has signed deals with Unicargas and Multiparques leading to securing a 20-year concession with the Luanda Port Authority for the operation and upgrade of the Luanda multipurpose port terminal in Angola.
AD Ports Group has committed $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 $379 million over the concession term and in line with market demand.
The agreements with Unicargas and Multiparques, well-known logistics and transport companies in the country, saw the Group 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. Serving as Angola’s dominant maritime gateway along the corridor, the Port of Luanda plays an important role 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. In addition, it serves as one of the main transhipment hubs for Central-West Africa by enabling maritime trade access to land-locked countries, including the Democratic Republic of Congo and Zambia.
Under the terms of the terminal concession agreement, the joint venture will significantly upgrade the existing multipurpose facility to a container and Ro-Ro terminal, encompassing an enlarged concession area (178,000 sq m to 192,000 sq m); an upgraded quay wall; additional ship-to-shore cranes, gantry cranes and other state-of-the-art equipment; expanded draft (9.5 metres to 16 metres); and, modernised IT systems.
Redevelopment of the terminal is expected to be completed in Q3 2026, ultimately boosting its container handling volumes from 25,000 TEUs to 350,000 TEUs, and Ro-Ro volumes to over 40,000 vehicles. During the 3-year redevelopment, the terminal’s container volumes will be handled at a nearby berth, while excess volumes will be moved to Multiparques’ Viana inland container depot (ICD), thereby minimising any impact to customers.
