AD Ports commits $250m to Angola port upgrade

Wam

• 20-year agreement for Luanda Port
• Stake in JV to operate terminal
• Gulf projects in Africa worth $53bn

Abu Dhabi Ports Group is investing more than $250 million in a project to upgrade the port terminal at Luanda in Angola. 

The company said it hd secured a 20-year concession agreement, extendable by another 10 years, with the Luanda Port Authority for operating and modernising the terminal.

In agreements with the Angolan logistics companies Unicargas and Multiparques, AD Ports has acquired an 81 percent stake in a joint venture that will operate the terminal and a 90 percent stake in another joint venture that will serve the broader Angolan logistics market.

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AD Ports Group has committed $251 million towards the development of the logistics business over the next three years, which could potentially increase to $379 million depending on market demand.

Last year companies from the Gulf announced 73 FDI projects in Africa, worth more than $53 billion, the latest data from the FDI tracking database fDi Markets shows. 

Luanda Port, Angola’s main maritime gateway, handles more than 76 percent of the country’s container and general cargo volumes. 

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It also serves as one of the main transhipment hubs for central-west Africa, giving maritime trade access to countries including the Democratic Republic of Congo and Zambia.

With a population of 34.5 million and a GDP of $74 billion, Angola is considered the sixth largest economy in sub-Saharan Africa. 

Under the terms of the terminal concession agreement, the joint venture will significantly upgrade the facility by the third quarter of 2026.

Container handling volumes are planned to grow from 25,000 twenty-foot equivalent units (TEUs), a general unit of cargo capacity, to 350,000 TEUs, while roll-on roll-off volumes will increase to more than 40,000 vehicles.

The second joint venture, with Unicargas, will provide logistics and freight forwarding services for local, regional, and international clients. It will be operated by Noatum Logistics, part of AD Ports Group.