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30 Apr 2024

AD Ports Group Secures 20-year Contract to Manage Luanda Port Terminal

AD Ports Group Secures 20-year Contract to Manage Luanda Port Terminal
Logistics company AD Ports Group secured a 20-year agreement with the Luanda Port Authority to modernize and manage the Luanda Port Terminal. The deal was facilitated through joint venture (JV) partnerships with Unicargas and Multiparques, paving the way for AD Ports to invest $251 million to upgrade the port’s infrastructure and services over the next three years.

Through its joint venture with Unicargas, AD Ports Group will acquire an 81% stake and manage terminal operations. Additionally, the company will hold a 90% stake in a joint venture with Multiparques, which will concentrate on port services and the broader Angolan logistics market.

“This collaboration marks a significant milestone in our mission to modernize infrastructure and expand global trade access, promising a prosperous future for Angola and its partners,” stated Ricardo Daniel Sandão Queirós Viegas de Abreu, Minister of Transport, Angola.

The formation of the partnerships is part of a broader framework agreement signed in 2023 between AD Ports Gropu and the Angolan government to enhance collaboration on infrastructure development and economic expansion.

Luanda Port handles 76% of Angola’s container and cargo volumes and is poised to play a pivotal role in accommodating the country’s anticipated 3% annual growth in container traffic over the next decade.

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