AD Ports Group, the operator of industrial cities and free zones in Abu Dhabi, will operate and upgrade the existing Luanda multipurpose port terminal in Angola.
AD Ports will invest $251 million towards the modernisation of the terminal and development of the logistics business over the next three years until 2026, it said on Tuesday.
There is a possibility to increase the investment to $379 million over the concession term and in line with market demand, it said.
The concession agreement with the Luanda Port Authority, which spans 20 years and can be extended for an additional decade, has been finalised with logistics and transportation firms Unicargas and Multiparque.
AD Ports will acquire an 81 per cent stake in a joint venture that will operate the terminal and a 90 per cent stake in another venture that will serve the complex and the broader Angolan logistics market.
“The multipurpose terminal will be modernised to attract business from leading global shipping lines and offer the highest levels of service efficiency and quality,” said Capt Mohamed Al Shamsi, managing director and group chief executive of AD Ports Group.
The deal comes after AD Ports teamed up with various Angolan organisations in January last year to enhance maritime connectivity along Africa’s west coast.
It also signed a framework agreement with Angola’s Ministry of Transport to develop maritime services and infrastructure across the country.
Some of the areas highlighted under the framework agreement included ferry and cabotage services, maritime passenger terminals, logistics platforms and a maritime academy in Angola.
It also covered plans to consider the development of the Caio Deepwater Terminal at Cabinda Port, in Angola’s oil-rich north-west.
With a population of 34.5 million, growing at a rate of 3.2 per cent, and a gross domestic product of $74 billion, Angola is the sixth largest economy in sub-Saharan Africa.
The Port of Luanda, which handles more than 76 per cent of the country’s container and general cargo volumes, serves as one of the main trans-shipment hubs for Central-West Africa.
It also enables maritime trade access to landlocked countries, including the Democratic Republic of the Congo and Zambia.
The port is expected to benefit from the growth in the country’s container volumes, which are projected to rise at an average annual rate of 3.3 per cent over the next 10 years, AD Ports said.
Redevelopment of the terminal is expected to be completed in the third quarter of 2026, boosting its container handling volumes from 25,000 twenty-foot equivalent units (TEU) to 350,000 TEUs, and Ro-Ro (roll-on-roll-off) volumes to over 40,000 vehicles.
The port's modernisation is aimed at stimulating economic growth across Central-West Africa, said Ricardo de Abreu, Angola’s Minister of Transport.
“This collaboration marks a significant milestone in our mission to modernise infrastructure and expand global trade access,” he said.
AD Ports said it is also exploring opportunities to support the country’s offshore industry and other maritime sectors.
It intends to use assets such as work accommodation vessels, passenger ferries, platform supply vessels, and other maritime craft and infrastructure.
COMPANY%20PROFILE%20
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The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Profile
Name: Carzaty
Founders: Marwan Chaar and Hassan Jaffar
Launched: 2017
Employees: 22
Based: Dubai and Muscat
Sector: Automobile retail
Funding to date: $5.5 million
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
THE SPECS
Engine: 1.5-litre
Transmission: 6-speed automatic
Power: 110 horsepower
Torque: 147Nm
Price: From Dh59,700
On sale: now
Company%20profile
%3Cp%3EDate%20started%3A%20January%202022%3Cbr%3EFounders%3A%20Omar%20Abu%20Innab%2C%20Silvia%20Eldawi%2C%20Walid%20Shihabi%3Cbr%3EBased%3A%20Dubai%3Cbr%3ESector%3A%20PropTech%20%2F%20investment%3Cbr%3EEmployees%3A%2040%3Cbr%3EStage%3A%20Seed%3Cbr%3EInvestors%3A%20Multiple%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.
8 traditional Jamaican dishes to try at Kingston 21
- Trench Town Rock: Jamaican-style curry goat served in a pastry basket with a carrot and potato garnish
- Rock Steady Jerk Chicken: chicken marinated for 24 hours and slow-cooked on the grill
- Mento Oxtail: flavoured oxtail stewed for five hours with herbs
- Ackee and salt fish: the national dish of Jamaica makes for a hearty breakfast
- Jamaican porridge: another breakfast favourite, can be made with peanut, cornmeal, banana and plantain
- Jamaican beef patty: a pastry with ground beef filling
- Hellshire Pon di Beach: Fresh fish with pickles
- Out of Many: traditional sweet potato pudding
If you go
The flights
Etihad flies direct from Abu Dhabi to San Francisco from Dh5,760 return including taxes.
The car
Etihad Guest members get a 10 per cent worldwide discount when booking with Hertz, as well as earning miles on their rentals. A week's car hire costs from Dh1,500 including taxes.
The hotels
Along the route, Motel 6 (www.motel6.com) offers good value and comfort, with rooms from $55 (Dh202) per night including taxes. In Portland, the Jupiter Hotel (https://jupiterhotel.com/) has rooms from $165 (Dh606) per night including taxes. The Society Hotel https://thesocietyhotel.com/ has rooms from $130 (Dh478) per night including taxes.
More info
To keep up with constant developments in Portland, visit www.travelportland.com. Good guidebooks include the Lonely Planet guides to Northern California and Washington, Oregon & the Pacific Northwest.
Killing of Qassem Suleimani
ARGYLLE
%3Cp%3EDirector%3A%20Matthew%20Vaughn%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Bryce%20Dallas%20Howard%2C%20Sam%20Rockwell%2C%20John%20Cena%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A
End of free parking
- paid-for parking will be rolled across Abu Dhabi island on August 18
- drivers will have three working weeks leeway before fines are issued
- areas that are currently free to park - around Sheikh Zayed Bridge, Maqta Bridge, Mussaffah Bridge and the Corniche - will now require a ticket
- villa residents will need a permit to park outside their home. One vehicle is Dh800 and a second is Dh1,200.
- The penalty for failing to pay for a ticket after 10 minutes will be Dh200
- Parking on a patch of sand will incur a fine of Dh300
THE%20SPECS
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The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EHakbah%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ENaif%20AbuSaida%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ESaudi%20Arabia%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E22%20%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24200%2C000%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3Epre-Series%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EGlobal%20Ventures%20and%20Aditum%20Investment%20Management%0D%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A
Andor
%3Cp%3E%3Cstrong%3ECreator%3A%3C%2Fstrong%3E%20Tony%20Gilroy%3Cbr%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EDiego%20Luna%2C%20Genevieve%20O'Reilly%2C%20Alex%20Ferns%3Cbr%3E%3Cstrong%3ERating%3A%205%3C%2Fstrong%3E%2F5%3C%2Fp%3E%0A
Killing of Qassem Suleimani
Read more about the coronavirus
Killing of Qassem Suleimani
MATCH INFO
Day 2 at the Gabba
Australia 312-1
Warner 151 not out, Burns 97, Labuschagne 55 not out
Pakistan 240
Shafiq 76, Starc 4-52
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
Mohammed bin Zayed Majlis
Killing of Qassem Suleimani
Safety 'top priority' for rival hyperloop company
The chief operating officer of Hyperloop Transportation Technologies, Andres de Leon, said his company's hyperloop technology is “ready” and safe.
He said the company prioritised safety throughout its development and, last year, Munich Re, one of the world's largest reinsurance companies, announced it was ready to insure their technology.
“Our levitation, propulsion, and vacuum technology have all been developed [...] over several decades and have been deployed and tested at full scale,” he said in a statement to The National.
“Only once the system has been certified and approved will it move people,” he said.
HyperloopTT has begun designing and engineering processes for its Abu Dhabi projects and hopes to break ground soon.
With no delivery date yet announced, Mr de Leon said timelines had to be considered carefully, as government approval, permits, and regulations could create necessary delays.
Brief scores:
Day 1
Toss: India, chose to bat
India (1st innings): 215-2 (89 ov)
Agarwal 76, Pujara 68 not out; Cummins 2-40
'Cheb%20Khaled'
%3Cp%3E%3Cstrong%3EArtist%3A%20%3C%2Fstrong%3EKhaled%3Cbr%3E%3Cstrong%3ELabel%3A%20%3C%2Fstrong%3EBelieve%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
The specs
Engine: 6.2-litre supercharged V8
Power: 712hp at 6,100rpm
Torque: 881Nm at 4,800rpm
Transmission: 8-speed auto
Fuel consumption: 19.6 l/100km
Price: Dh380,000
On sale: now
MATCH INFO
Jersey 147 (20 overs)
UAE 112 (19.2 overs)
Jersey win by 35 runs
