The Fundo Soberano de Angola (FSDEA), Angola’s sovereign wealth fund, plans to invest $180 million in a new port in Cabinda, Angola.
This investment will create the first deep sea water port in Angola and it will be built in two phases, FSDEA said in its announcement.
Phase one will result in a 630 meter long terminal, connected to the shore via two kilometer long connection bridge.
The access channel will be 15 meter deep and the terminal will benefit from a water depth of 14 meters.
“Investments in the industrial sector and infrastructure support trade in the sub-Saharan region have shown high rates of profitability and resistance to the risks associated with the countries on our continent,” said José Filomeno dos Santos, Chairman of the Board of Directors, FSDEA.
“Allocating capital to maritime infrastructure and logistical and industrial support in Angola allows diversifying other investments in the international financial markets present in FSDEA’s portfolio. Through this project, in particular, we aim to create more than 20.000 jobs and add value to our national growth.”