DP World, the leading provider of smart logistics solutions, and the Government of Angola, has signed a Memorandum of Understanding (MoU) with the aim of cooperating to further develop the country’s trade and logistics sector, according to the company's release.
The MoU was signed in Luanda by Eugenio de Lima Fernandes, National Director for Concession Economics, and Suhail Al Banna, CEO and MD, Middle East and Africa Region, DP World, in the presence of His Excellency, Dr Ricardo Viegas de Abreu, Angola’s Minister of Transport, and Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World.
The MoU paves the way for the two parties to enter into formal discussions to explore cooperation in the areas of ports and terminals, special economic zones and logistics parks, cross border trade facilitation, trade finance and marine services, as well as logistics support in other commodity-based sectors.
DP World began operations at the Multipurpose Terminal (MPT) at the Port of Luanda on 1 March 2021 after it was awarded a 20-year concession to manage, operate and modernise the facility.
Since then, DP World Luanda has invested in new equipment and facilities, technology and the development and training of staff, as part of a US$190 million initial investment to transform the terminal into a major maritime hub along the western coast of Southern Africa.
Following the implementation of the MPT’s development and modernisation plan, the teams at DP World Luanda increased operational efficiency threefold within the first six months of starting operations. The team also achieved the feat of being the first terminal in the country to handle two large vessels simultaneously.
About DP World
DP World is the leading provider of worldwide smart end-to-end supply chain logistics, enabling the flow of trade across the globe. The company delivers these services through an interconnected global network of 190 business units in 69 countries across six continents, with a significant presence both in high-growth and mature markets.