Chinese company Huatong Angola Industry is participating in a US$900 million investment in the Barra do Dande Integrated Development Free Zone, in Angola’s Bengo Province. Investment agreements relating to the project were recently signed in Luanda.

The investment comprises two components worth approximately US$450 million each. One covers the sub-concession and construction of a port terminal, while the other covers associated infrastructure, including power networks and access roads. The financing will be provided by the private sector.

The project encompasses the construction, operation, management and maintenance of the complex and will be implemented in three phases. The first phase is expected to be completed within 24 months, allowing operations to begin. The remaining phases are due to be completed by 2030.

The terminal will be able to accommodate vessels with a gross tonnage of up to 80,000 and handle around 20 million tonnes of cargo annually. According to the Angolan authorities, the first phase could create approximately 21,000 jobs. The investment aims to strengthen Angola’s logistics capacity and support exports from the free zone.

(Source: e-Global, 7 August)