Angola: US$1.5B guaranteed for construction Dande Port

At least 1.5 billion US dollars is the amount authorized to the Ministry of Finance to provide, as a guarantee of the State of payment at the first request, in favor of the financing entities, for the concession contract of the Barra Dande Port, ANGOP learnt on Friday.

The project of the Barra do Dande Port, approved in a Presidential Decree published in the Official Gazette of September 20, includes the granting of rights related to the construction and exploitation of por, a project that will be executed by Atlantic Ventures – Sociedade de Desenvolvimento e Gestão Portaria SA in partnership with the Port of Luanda, through a minority interest in the capital stock up to 40 percent.

This project was approved by the Cabinet Council in Luanda on August 16.

The Angolan government justifies that the current port infrastructure in Luanda, in accordance with the evolution of port operations and traffic projections in recent years, will not, in the short term, achieve the needs of stevedoring and handling of loading and unloading required by national and international trade.

The area linked to the concession of the referred Port is attributed the status of Free Zone, a delimited territory where some tax benefits are enjoyed.

The implementation of the respective investments, including the protection and expansion zones were reserved a total of 197.287 square kilometers and a perimeter of 76.56 kilometers, according to the document.

The city of this new port will include several services, including a special economic zone, with a view to boosting the process of improving the administration of the State, economy and life of the population.

Source: Angop

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