02/01/2021 | Press release | Distributed by Public on 02/01/2021 11:55
Cuatrecasas advised Dubai Ports World (DP World), based in the United Arab Emirates, on the agreement to hand over the operation of the multipurpose terminal at the port of Luanda. The agreement was signed on Tuesday, January 26, by the chair of the board of directors of the port of Luanda and the group chair and CEO of DP World.
Under the USD 1 billion global agreement, which included USD 150 million for the concession, DP World will continue to manage the multipurpose terminal at the port of Luanda until 2040. The agreement resulted from an international tender that DP World, the world leader in supply of logistics solutions, took part in.
Cuatrecasas provided legal advice to support DP World when the international public tender was launched, helping it prepare all parts of the tender and monitor both the negotiations between the finalists and the final negotiation with the Evaluation Commission and the Port of Luanda Management division.
An interdisciplinary team led by Aida Kellal, from the Middle East desk, Lourenço Vilhena de Freitas, partner in the Public Law practice, and André Duarte Figueira, coordinator of Cuatrecasas' operations in Angola, provided a permanent connection between Dubai, Luanda and Lisbon.
DP World is a multinational logistics company specializing in cargo, port terminal operations, maritime services and free-trade zones, and it manages 10% of all containerized cargo traffic. It has around 150 operations underway in different parts of the globe and employs 50,000 people.
This is one of the most important transactions for the Angolan Ministry of Transport and has taken place under the framework of the new Private Investment Law.
The port is located in the natural harbor of Luanda and is the largest port infrastructure in Angola. It also offers excellent navigation and operating conditions for sea transport vessels. The port of Luanda is located in the mid point of the west coast of the African continent, making its seaport infrastructures a mandatory stop for the sea transport routes in west Africa. The port is managed by Empresa Portuária de Luanda, E.P., a public company in charge of management and operation of existing cargo and passenger terminals.
The signing of the contract was attended by some of Angola's main political leaders, including the Minister of Transport and the Regional Governor of Luanda.