Africa Angola Construction Development Economy FDI Finance

Van Oord consortium to undertake Angolan coastline reclamation

The consortium consisting of Van Oord and Urbinveste – Promoção e Projectos Imobiliários, S.A. has been awarded the contract for the design and construction of the Marginal da Corimba project in Luanda, Angola.

The contract has been signed with the Angolan government (Gabinete Técnico de Gestão da Requalificação e Desenvolvimento Urbano do Perímetro Costeiro da Cidade de Luanda, Futungo de Belas e Mussulo). It contains a financing agreement arranged by ING Bank NV and a credit insurance provided by Atradius Dutch State Business NV (the Export Credit Agency of the Netherlands) for Van Oord’s share in the project of approximately USD 400 million.

Angola’s economy relies heavily on the oil & gas sector and has been growing in a rapid pace in recent years with big infrastructure investments as a result. The current economic turmoil and lower oil prices have slowed down growth and development, however the Angolan government remains determined to invest in infrastructure and keep improving Angola’s private sector in agriculture, fishery, tourism and logistics.

Marginal da Corimba (Photo Van Oord)
Marginal da Corimba (Photo Van Oord)

The growing number of inhabitants and vehicles requires the city of Luanda to expand and provide solutions to alleviate the current congestion issues.

Therefore an area of 400 hectares will be reclaimed along the coast of Luanda and will be protected by various rock revetments and breakwaters. The new area will serve the purpose for the construction of the Marginal da Corimba highway, future fishery
port, marina and real estate development. The rock required for the project will be procured from local quarries. Van Oord will deploy various dredging equipment on this project which is expected to be completed mid-2019.

The Marginal da Corimba project aims to revitalize the area of Samba, Corimba and Futungo de Belas, with the purpose of improving the quality of life of the population. It will contribute to an improved accessibility of the city of Luanda as well as to help solving the capital city’s urbanization challenges in a sustainable manner.

Source: MarineLink

1 comment

  1. This is a monumental opportunity fourth coming for a city of great outcome and the many blessings for the wonderful people of Angola. I’m so greatful to know that the future will be greatly stood upon forthcoming created from the foundation of the foreseers of this Great country, God Bless Angola!

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