Angolan attorney general recovers state-funded assets

1 August 2019

Angola’s Attorney General’s Asset Recovery Service has recovered the terminals of the ports of Luanda and Lobito, which were under the management of Soportos – Transporte e Descarga, according to a statement issued in Luanda.

Soportos operated the multi-purpose terminal of the port of Luanda, a port infrastructure with an area of 181,700 square metres capable of handling 2.67 million tonnes of cargo per year.

In addition to the equipment to handle various types of cargo, the terminal, which was leased for a period of 20 years to Soportos, has a 610-metre dock and is 12.5 metres deep.

Angolan news agency Angop reported that in the case of the port of Lobito, Soportos – Transporte e Descarga took the concession of the ore terminal in 2017.

The Attorney General’s Office also recovered the Talatona Conventions Hotel (HCTA), a public enterprise financed by Angolan state oil company Sonangol, but which was managed by a private company.

The five-star hotel unit cost more than US$200 million to build and, shortly after payment and construction, was handed over for exploration to a private company with a bonus of an estimated US$12 million based on what is now considered to be a damaging contract. (Macauhub)