AD Ports Group secures 20-year concession in Luanda

The UAE’s AD Ports Group has signed a concession agreement to operate and upgrade Angola’s multipurpose Luanda Port, the Emirati company said on Tuesday.

The agreement spans 20 years and can be extended for a further 10 years. As part of the agreement, AD Ports will invest USD 251 million in upgrading the port and developing logistics business for the first three years. The investment may increase up to USD 379 million over the concession term, depending on demand.

Mohamed Juma Al Shamisi, managing director and group chief executive of AD Ports Group, said “The multipurpose terminal will be modernised to attract business from leading global shipping lines and offer the highest levels of service efficiency and quality.”

This concession follows a number of initiatives of AD Ports in the region, including a framework agreement signed with Angola’s Ministry of Transport for the development of maritime services and infrastructure. The agreement includes plans to develop the Caio deepwater port in Cabinda.