Cabinda — The construction works of Caio Deep Water Port, which had been halted for two years, in northern Cabinda province, resume this month after a USD 124 million debt settlement with the contracting companies.
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Caio Deep Water Port works, which had been halted for two years, resume this month
The amount was paid Thursday by the Maritime and Port Institute of Angola (IMPA) to the companies Caio Porto and CRBC.
The director general of IMPA, Nazareth Neto, who represented the Ministry of Transport in delivering the value, met with the respective companies in charge of the execution of the work.
Nazareth Neto guaranteed that the financial issue that led to two-year stoppage was over, stressing that the following steps entails the review of other invoices for the operations carried out during 2019.
In turn, the chairman of the Board of Directors of the Port of Cabinda, Samuel Sambo, said he was pleased with the resumption of the works at the Port of Águas Profesas do Caio.
The option to keep the companies Caio Porto and CRBC in the project aims to restart the construction of the port infrastructure, to end the dependence of the province on Economic Port of Point Noire, Republic of the Congo.
The works of the Caio Port Deep Water started in 2015 and saw their interruptions after reaching, in 2017, levels of physical execution above 45 percent, with the construction of more than 400 of the expected 775 meters of quays.
The investment in Caio Port is estimated at more than 800 million dollars, of which 180 million funded by the Sovereign Fund.