Angola’s sovereign wealth fund The Fundo Soberano de Angola (FSDEA) has announced a $180 million investment in a deep sea port in Angola as part of its $1.1 billion infrastructure fund in the country.
“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. 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,” José Filomeno dos Santos, Chairman of the Board of Directors, FSDEA said.
The State-owned institution Fund develops an investment portfolio across a number of industries and asset classes, in accordance with international governance benchmarks; and the investment policy and guidelines set by the State.
The construction of the first deep sea port in Angola which is expected to create more than 20, 000 jobs in the country will be done in two phases.
Phase 1 will involve the construction of a 630metres-long terminal connected to the shore via a two kilometre-long connection bridge. The access channel will be 15 meters-deep with the terminal benefitting from a water depth of 14 meters.
Upon completion the deep sea port facilities will include a free trade zone, state-of-the-art ship repair, storage and unloading.
The Fund whose total assets as at September 30th 2016 stood at $4.755 billion also invests in large-scale wood fibre plantations, agriculture infrastructure s well as national and international private equity.