February 3, 2022: DP World and the Government of Angola signed a Memorandum of Understanding (Mou) to develop the country's trade and logistics sector.
"The MoU paves the way for the two parties to enter into formal discussions to explore cooperation in the areas of ports and terminals, special economic zones and logistics parks, cross border trade facilitation, trade finance and marine services, as well as logistics support in other commodity-based sectors," says an official release from DP World.
The MoU was signed in Luanda by Eugenio de Lima Fernandes, National Director for Concession Economics, and Suhail Al Banna, CEO and MD, Middle East and Africa Region, DP World, in the presence of His Excellency Dr Ricardo Viegas de Abreu, Angola's Minister of Transport, and Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World.
DP World began operations at the Multipurpose Terminal (MPT) at the Port of Luanda on March 1, 2021 after it was awarded a 20-year concession to manage, operate and modernise the facility.
DP World Luanda is planning an initial investment of $190 million to transform the terminal into a major maritime hub along the western coast of Southern Africa.
"Alongside the Multipurpose Terminal, there is still tremendous opportunity to further develop and integrate the country's logistics and trade infrastructure and unlock more economic benefits,: says Bin Sulayem. "The Angolan government has an ambitious plan for this sector, and through this MoU our primary objective is to find ways in which we can support the country to significantly maximise its strategic location and increase trade flows domestically and in the surrounding region."
The team at DP World Luanda has increased operational efficiency three-fold within the first six months of starting operations, the release added.