Swiss-Angolan partnership invests millions of dollars for fuel tanks in Angola

22 December 2016

The Angolan private company Pumangol will invest US$295 million to build, starting in 2017, aircraft fuel storage and distribution units at airports in Luanda, Huíla, Benguela and Cunene, indicates the official investment contract signed in Luanda.

The investment contract was signed with the Technical Unit for Private Investment (UTIP). Pumangol is a partnership between Puma Energy, whose shareholders are the Swiss group Trafigura and Sonangol Holdings, and the Angolan private group Cochan.

The project also aims to build a storage and distribution terminal for oil products at the fishing port of Luanda, with several tanks and total capacity of 300,000 cubic metres, including acquisition and installation of a conventional traction buoy (mooring system used to transfer products such as oil and gas between oil tankers and coastal facilities) and construction of a harbour quay in Luanda.

UTIP deputy director-general Cláudia Pedro said the project would contribute to Angola’s growth by creating direct and indirect jobs with a major impact on the population’s living standards. (Macauhub)