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Eaglestone advises the Angolan Government on the international public tender for the concession of Luanda's Multipurpose Port Terminal - Press Release
On the 25th January of 2021, the Government of Angola, through the Luanda Port Authority, entered into a 20-year Concession Contract with DP World for the operation of the Multipurpose Terminal located in the Port of Luanda.
This milestone marks the successful outcome of a process which started in December 2019 with the launch of an international public tender for the selection of a world class operator for the Multipurpose Terminal.
Eaglestone acted as the financial adviser to the Angolan Ministry of Transport and the Luanda Port Authority throughout the entire process, which culminated in the award of the contract to DP World.
Despite the current adverse conditions caused by the Covid-19 pandemic, the tender attracted the interest of several international well-recognised port operators and the project was closed in just over 12 months. The competitive process that was conducted for the tender award included an initial submission of bids and the evaluation thereof, negotiation with shortlisted bidders and a final negotiation with the preferred bidder selected.
The new concessionaire has an ambitious investment program of nearly USD 200 million comprising the rehabilitation of the existing pier as well as the modernisation of the remaining infrastructures and equipment with the objective of improving efficiencies and establishing a world class port operation. The project also involves an initial USD 150 million payment to the Luanda Port Authority as well as future annual fixed and variable payments, which will assist the authority with the funding of its other operations and capital requirements leading to further benefits to the Port of Luanda.
“Eaglestone is delighted to be involved in this landmark transaction which strengths our commitment to the Angolan market and our role as a top tier financial adviser in the infrastructure sector in the African continent. We want to congratulate the Angolan Government, the Luanda’s Port Authority and DP World for this achievement”, commented Pedro Neto, CEO and Founding Partner of Eaglestone.
Joao Fernandes, President of the Negotiation Commission said “The signing of the Concession Contract for the Multipurpose Terminal forms part of a wider strategy to enhance the maritime potential of Angola through the promotion of the rehabilitation and modernisation of its ports and logistic infrastructure. I would like to congratulate Eaglestone for their excellent work and instrumental role in supporting us to get to this successful milestone”.