Luanda Port posts revenue of US$105 million in 2005

15 June 2006

Luanda, Angola, 15 June – Luanda Port, the largest port in Angola posted revenue of US$105 million last year, which represented an increase of US$25 million on 2004, the chairman of the port’s management company, Sílvio Vinhas said Wednesday.

Vinhas, who was speaking at a press conference to celebrate the port’s 61st anniversary, said that the increase in revenue was a result of increased cargo at the port.

According to the chairman, Last year, the Port of Luanda processed over 4 million tons of cargo.

In total, traffic of goods, ships and containers at the port increased 12 percent, due to the country’s economic development.

In order to deal with increased demand over the last few years, Luanda Port is undergoing a modernization project, which involves an investment of US$90 million over the next five years.

The Port, which processes some 80 percent of all the goods that enter or leave Angola, has four terminals, one of which is used for general cargo and another for containers.

It also has a multipurpose terminal and another to support the oil sector. (macauhub)