UAE's DP World, Angola sign MoU to explore latter's logistics sector

12 Feb '22

1 min read

Pic: DP World

Dubai-based smart logistics solutions provider DP World and the Angolan government recently signed a memorandum of understanding (MoU) to cooperate and develop the latter’s trade and logistics sector. The MoU was signed in Luanda by Eugenio de Lima Fernandes, the country’s national director for concession economics, and Suhail Al Banna, DP World’s managing director for Middle East and Africa.

The agreement will lead to formal discussions to explore cooperation in ports and terminals, special economic zones and logistics parks, cross-border trade facilitation, trade finance, marine services and logistics support in other commodity-based sectors.

DP World started operations at the multipurpose terminal at the Port of Luanda on March 1, 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 $190 million initial investment to transform the terminal into a major maritime hub along the western coast of Southern Africa, a press release from the company said.

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