Page 32 - LUA May June 2024 for Website

NEWS

AD Ports secures 20-year deal to operate port terminal in Angola

D Ports Group has signed several agreements with
AUnicargas and Multiparques leading to securing
a 20-year concession agreement (extendable for
another 10 years) with the Luanda Port Authority
for the operation and upgrade of the existing Luanda
multipurpose port terminal in Angola.
The agreements with Angolan logistics companies
Unicargas and Multiparques saw the Group acquire an
81 percent stake in a joint venture that will operate the
terminal, and a 90 percent stake in another joint venture
that will serve the facility and the broader Angolan
logistics market.
AD Ports Group has committed $251 million
towards the modernisation of the terminal and
development of the logistics business over the
next three years (2024-2026), with this investment
potentially increasing to $379 million over the
concession term and in line with market demand.

Nigerian Ports Authority Egypt to expedite

to get $700m loan for maritime, land, dry ports,
logistic zones development
Apapa & TinCan ports gypt’s President Abdel Fattah El-Sisi met ministers to

Ereview the implementation status of the investment
plan for the transportation sector projects.
The President was briefed on efforts to develop
the railway system, and rehabilitate and develop the
Greater Cairo metro lines, in addition to projects for the
construction, modernisation, and operation of ports in
partnership with global companies. The meeting also
followed up on the latest with regard to the government's
efforts to localise industries related to the transport sector
in Egypt by establishing partnerships with the private
sector and attracting foreign investment in this field.
In this context, the President gave directives to
expedite the completion of the construction and
development of maritime, land, and dry ports, as well
as logistic zones, to encourage transit trade and develop
Egyptian exports, ultimately transforming Egypt into a
igerian Ports Authority for landside operations and regional hub for transportation and transit trade.
N(NPA) has secured a Citibank other physical infrastructure to
$700m loan funded by the UK deepen the drought to 16.5m
Export Finance (UKEF) to to accommodate larger vessels,”
revamp the Apapa & TinCan he said.
Island Ports. TinCan Island Port is
“I had the pleasure of signing located northwest of Lagos
the mandate letter and term Port Complex and came into
sheet for a Citibank $700m loan,” being in 1975 when the country
wrote NPA managing director experienced an increase in
Mohammed Bello-Koko. economic activities during the
“Our target is to rehabilitate oil boom coupled with the post-
the deteriorating quay wall civil war reconstruction.

30 LUA MAY - JUNE 2024