AD Ports Group signs important maritime and port framework agreements with the Angolan Ministry of Transport and UNICARGAS

AD Ports Group (ADX: ADPORTS) has signed important maritime and port framework agreements with Angolan organisations. These key strategic agreements, which include the creation of a new joint venture to manage the multipurpose terminal at the Port of Luanda with UNICARGAS and potential collaboration on port development with the Ministry of Transport of the Republic of Angola, aim to improve maritime connectivity along the West African coast.

The framework agreement with the Ministry of Transport of the Republic of Angola was concluded by AD Ports Group at Abu Dhabi Sustainability Week 2023 in the presence of Sheikh Shakhbout bin Nahyan Al Nahyan, the Minister of State, to initiate collaboration on the development of maritime services and infrastructure in Angola. Areas highlighted in the strategic framework agreement with the ministry for possible future joint investments and developments include ferry and coastal services, maritime passenger terminals and logistics hubs, and a maritime academy in Angola. The framework agreement also covers plans to consider the development of the Caio deepwater terminal in the port of Cabinda, located in Angola’s oil-rich northwest region.

The agreement with state-owned logistics and transport company UNICARGAS, aims to form a joint venture to manage the multi-purpose terminal at the port of Luanda, Angola’s busiest port, which handles more than 70% of the country’s international imports and 80% of its non-oil exports. The new joint venture, majority owned by AD Ports Group, will be responsible for upgrading, managing and operating the multipurpose terminal and logistics operations of UNICARGAS.

AD Ports Group’s new agreements in Angola have the potential to significantly boost the country’s maritime industry. With Angola’s oil and gas sector accounting for approximately 50% of the republic’s GDP and 90% of exports, the energy sector in particular is expected to benefit significantly from improved connectivity.

Angola is considered the sixth largest economy in sub-Saharan Africa, with a GDP of $74 billion. Well placed to benefit from increased maritime trade, the Republic of Angola offers 1,600km of Atlantic Ocean coastline, with five major operational ports, located in Luanda, Cabinda, Lobito, Soyo and Namibe.

Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “Our collaboration with the Republic of Angola demonstrates AD Ports Group’s commitment to supporting the UAE’s strong and evolving relationship with Angola in line with the directions of our wise leadership. “We are focused on building fast and efficient maritime trade routes, and we are pleased to bring our robust knowledge base to Angola and the ports located on Africa’s west coast. These agreements reflect the trust the Ministry of Transport and the team at UNICARGAS have placed in us, and in our ability to contribute to Angola’s economic growth plans.” 

Ricardo Viegas D´Abreu, Minister for Transport of the Republic of Angola commented: “The development of the Republic of Angola’s port infrastructure is a key priority of our 2023-2027 National Development Plan. Modernising our port infrastructure is a vital step for Angola to maximise the potential of our natural resources and promote economic growth for the benefit of our people. We are delighted to enter into the framework agreement with AD Ports Group and to benefit from its established knowledge and expertise as a global maritime player.” 

Mohamed Eidha Tannaf AlMenhali, Regional CEO – Africa, AD Ports Group, said: “We are pleased to participate in the new joint venture to enhance and operate the multipurpose terminal at the Port of Luanda, leveraging the expertise we have developed at ports in the UAE and wider region. Working with UNICARGAS, we see significant opportunities to increase efficiency and boost capacity, deploying the latest innovations to enhance service levels and turnaround times.”  
  
Joaquim Nazaré Pimentel da Piedade, Management Committee Coordinator, UNICARGAS, said: “Our aim is to develop a state-of-the-art multipurpose terminal to enhance the Port of Luanda’s position as Angola’s busiest port, to accelerate trade flows and contribute to economic growth. We are delighted to work with AD Ports Group, which has the technical and operational expertise to take services at the terminal to the next level.”