Angola: President Lays Foundation for Deep Water Port in Cabinda

Cabinda — The Angolan head of State, José Eduardo do Santos, Monday laid the foundation stone for the construction of the deep water port in the locality of Caio, northern Cabinda province.

The Caio deep water project comprises three phases contained in the steering plan that makes provisions for the infrastructure to have the flexibility required for the development of the province.

In its first phase, the Caio commercial port will have a 775-metre quay, before reaching 1,550 in the third phase.

The port’s storage area will cover 1,640 hectares, whereas the area for container cargo will stretch to 3,690 hectares, that is in the third phase.

The construction of the undertaking is estimated to last three years, comprising three phases.

The Caio deep water port project will be developed under a public-private partnership, with the Angolan State assigning the construction, operation and transfer a company called CaioPorto,SA.

Caio Porto,SA is a mixed capitals company, employing an Angolan manpower of 75 percent, with a significant participation of the private sector, particularly entrepreneurs from Cabinda province.

In the undertaking, the foreign investors will respond for a contribution of Usd 60 million, whereas the Angolan side will participate with Usd 180 million. The total amount will include a funding of Usd 360 million that will be released by financial institutions.

The port is expected to provide about 1,000 new direct jobs at short term, before rising to 1,500 at long term.