Dubai-based firm DP World to double Luanda port capacity
The expansion will lengthen the quay and add 15 cranes, allowing the terminal to handle two large container ships at once and cut turnaround times. DP World will invest $90 million over two years to expand its terminal at Angola’s Port of Luanda, more than doubling capacity as the Dubai-based firm deepens its bet on African trade. The expansion will lengthen the quay and add 15 cranes, allowing the terminal to handle two large container ships at once and cutting turnaround times by up to half, the company said. Angola also extended DP World’s concession by 10 years, to 2051. The company has spent more than $260 million on the terminal since it began operating there in 2021, and volumes have nearly doubled to more than 350,000 containers. The investment extends a two-decade buildout across at least nine African territories that has kept DP World profitable through the Iran war. The company plans to commit another $4 billion to the continent, its Africa chief told Bloomberg.
The expansion will lengthen the quay and add 15 cranes, allowing the terminal to handle two large container ships at once and cut turnaround times. DP World will invest $90 million over two years to expand its terminal at Angola’s Port of Luanda, more than doubling capacity as the Dubai-based firm deepens its bet on African trade. The expansion will lengthen the quay and add 15 cranes, allowing the terminal to handle two large container ships at once and cutting turnaround times by up to half, the company said. Angola also extended DP World’s concession by 10 years, to 2051.
The company has spent more than $260 million on the terminal since it began operating there in 2021, and volumes have nearly doubled to more than 350,000 containers. The investment extends a two-decade buildout across at least nine African territories that has kept DP World profitable through the Iran war. The company plans to commit another $4 billion to the continent, its Africa chief told Bloomberg.