Angola’s deep water commercial harbour Port of Caio is set to commence full operations in the first quarter of 2019. This is one year ahead of the original schedule.
The construction of the deep-water port is has gained momentum due to the strong support form the Government of Angola, Ministry of Transport, Provincial Government and China’s Export-Import Bank.
According to Jean-Claude Bastos de Morais, a major shareholder in Port of Caio, Africa’s significant infrastructure need urgent address. This is through embracing the PPP model to help attract more private investment in sectors such as ports, roads and highways.
“We look forward to exploring more developmental opportunities with governments across Africa. We will continue to play an important role in the transformation of the African economic model. Such that the economic diversification, robust economic growth and sustainable employment all become a near-term reality providing enormous benefits for ordinary Africans,” said de Morais while praising the support of the government and private sector in this mega project.
Once fully operational, the port will boost cargo-handling capacity thereby making exports much easier and more cost-effective. The deep-water port projection is to increase trade. With at least 30 percent and create around 1,600 direct jobs for the operation. The China Road and Bridge Company (CRBC) is responsible for the construction of the facilities. Even so, the project has created thousands of jobs for ordinary Angolans.
This is a public-private partnership (PPP) and the first of its kind in Angola. Once completed, the port project will be a major trade gateway between Angola and the rest of Africa and beyond, becoming an engine for economic growth, raising living standards and creating real economic opportunities. The port represents a transformational shift in the country’s determination to invest in long-term economic growth that positively impacts the local and national populations and the wider region.
The ideation, design and project management of the deep-sea port began in 2007. However, within a five-year investment period, the management company (Caioporto SA) awarded a concession that included designing, financing, construction, operation and maintenance of the Port. Moreover, extensive feasibility studies were carried out and preliminary costs have been invested into the project to build a best in class deep-water port that will act as a catalyst for increasing economic prosperity for all stakeholders. Now under construction, the Port of Caio is an investment that represents a significant step-change in the country’s transport and logistics capabilities, positioning the nation as the new west-coast gateway to the African continent.
Once completed, the Port of Caio, together with the other existing ports in Angola, will redefine conventional notions of trade with Angola. The new projection is directly in line with the plans of the Government of Angola to rebuild the national infrastructure and serve as a catalyst for regional and international cooperation through the implementation of maritime, rail, road and port transportation programs. The launch of Porto de Caio will generate significant revenues for the region. Also it will serve as a key factor for the economic development and job creation.
What you need to know about the Port of Caio
- Port of Caio is the world-class port facility.
- It is an integral part of a new infrastructure program of the Government of Angola.
- It emerged out of a public-private partnership with the pioneer company Caioporto SA, based in Angola. Caioporto SA was awarded the concession to finance, plan, design, build and manage the Port of Caio. Under the terms and conditions agreed upon in a concession agreement prepared in collaboration with the Ministry of Transport