DP World to invest $90m to upgrade Angola's Port of Luanda

DP World, the global ports operator, has secured a 10-year extension to its concession for the Port of Luanda in Angola. This extension, granted by the Dubai-based firm, comes as DP World continues to expand its presence in Africa. The company recently announced a $90 million investment over the next two years to upgrade the terminal's infrastructure.

This expansion aims to increase the terminal's capacity to handle over 1.2 million twenty-foot equivalent units (TEU), up from the current 500,000 TEU. The quay will be extended by 222 meters, and the operating area will be expanded by 10 hectares. The investment will also see the addition of three ship-to-shore cranes and 12 semi-automated gantry cranes, enabling the terminal to accommodate two "Post-Panamax" ships simultaneously.

These vessels are wider than the original Panama Canal locks. Mohammed Akoojee, DP World's chief executive and managing director for Africa, emphasized that the expansion is a significant milestone for Angola and the wider region, as it will support new shipping services and strengthen the terminal's role as a gateway for West and Central Africa.

Since starting operations in Angola in 2021, DP World has invested more than $260 million in upgrading and modernizing the Luanda terminal. Paco Pinzon, DP World Luanda's chief executive, highlighted that the extended concession demonstrates the company's long-term commitment to Angola and its potential as a leading regional trade gateway.