Over US$130 million to be invested in Luanda Port, Angola

16 February 2006

Luanda, Angola, 16 Feb – The management of Luanda Port, together with the concession-holders of its cargo terminals, plan to invest over US$130 million over the next four years in the port as part of its Strategic Modernization Plan for 2006-2010.

According to Luanda Port’s commercial director, Nazaré Neto, speaking Wednesday at a public meeting to present the strategic plan, the investment is intended to give the port an image overhaul and increase its ability to meet demand in terms of loading and unloading cargo.

The plan aims to make Luanda Port a benchmark seaport on the African continent in the next 10 years.

According to Neto, in order to reach these objectives the port’s existing cranes need to be refurbished and new ones acquired, as well as new infrastructures and extension of existing piers to allow ships to maneuver more easily.
Similarly to its direct competitors (West African ports), Luanda Port aims to have annual traffic of 5.3 million tons of goods by 2010. It currently deals with 4 million tons of cargo a year.

The port’s strategic modernization plan is based on a market report carried out by British consulting company, Ocean Shipping Consultants.

According to the report, to increase the port’s efficiency in terms of moving goods, ships’ operations should be carried out at special terminals, which is the reason for building new cargo terminals.

According to Ocean Shipping’s projections, the expected increase in imports and exports from Luanda Port require the port’s area to be increased by 15 percent.

As well as West African ports, Luanda Port competes directly with the ports of Lobito (Angola’s Benguela province), Walvis Bay (Namibia), Durban, Elizabeth and Cape Town (South Africa). (macauhub)