The deputy director for the technical area of the Maritime and Port Institute of Angola (IMPA), Manuel Arsénio, announced Thursday a commercial deep water port will be built in Porto Amboim, Kwanza Sul province.
Arménio, who was speaking at the Porto Amboim Business and Investment Forum, said the port will be built by a consortium made up of Sonangol Holding and Sogester, which will have a 70 percent stake and the remainder is private investment.
The port will be built in three phases between 2017 and 2024 and will be located in the Torre-do-Tombo area, on the outskirts of the city, in an area of 80 hectares.
In an initial phase investment will be US$500 million, which will increase to US$1.8 billion when the project is fully completed.
The port will have a draft of around 12 metres and be 500 metres long, and a depth of 14.5 metres. In an initial stage it will be able to receive two ships at the same time and in the final phase about seven ships.
The deputy director of IMPA also said the port would facilitate exports of cotton and coffee from Angola. (macauhub/AO)