Angola has started construction of a deep-water port project in the Caio locality in the north of the Cabinda province.
The Caio deep-water port will be developed under a public-private partnership (PPP) model and carried out in three phases over three years; financial institutions are expected to provide $360m for the project, while foreign investors will contribute $60m and the Angolan government will invest $180m. .
Angola has awarded the construction, operation and transfer of the project to Caio Porto.
In the first phase of the project, the Caio commercial port will have a 775m quay, which is expected to reach 1,550m in the third phase.
The port's storage area will cover 1,640ha and the area for container cargo will stretch to 3,690ha by the end of the third phase.
As part of the port development, a new pier has been completed at a cost of $19.9m by China-based Gezhouba Company, which started work in September 2010.
The new pier has a length of 110m and an average depth of 8.5m and will replace the existing wooden pier as it had very limited capacity for ships.
Angola Transport Minister Augusto da Silva Tomás said that the new pier at the port is the first step of a broad programme, adding that this infrastructure is important to avoid accidents.
"We are investing heavily so that the port can become a big player amongst ports in Angola and in neighbouring countries, particularly in the republics of the Congo, " Tomás said.
Over the next five years, Angola aims to invest $1bn in the ports sector of the Cabinda region.