UAE All Set To Invest In Petroleum Storage Base In Angola! Here is Where 600M USD Of UAE IS Going!
On
8th November Sonangol Group, an Angolan state oil company and a delegation from
the UAE (Headed by His Highness Sheikh Ahmed Dalmook Al Maktoum) sat together
and came to a decision of resuming the construction of the oil storage plant.
During this meeting, the UAE decided to invest 600 million USD in the project.
The deal was confirmed as the Sonangol President, Garpear Martins & Sheikh Ahmed Bin Dalmook Juma Al
Maktoum, who represented the UAE delegation signed an MOU on the same. Highness Sheikh Ahmed Bin Dalmook Al Maktoum said UAE sees Angola as a "strategic
country" and is looking at opportunities and investments in various areas.
Angolan efforts to bring home the new investments. This project is a new hope
for the country struggling with unemployment. Sheikh Ahmed Dalmook Al Maktoum mentioned, how
they plan to invest their money to bring Angola up on the charts of global
business opportunities and create new jobs for Angola people
The
project of construction of the oil storage plant in Barra do Dande Ocean
Terminal in northwest Angola’s Bengo Province, that we mentioned above, was on
hold since 2016 and now is expected to resume.
The Details on Angolan Oil Storage Plant -
The
entire project is divided into two phases. This oil storage plant is expected
to have a capacity of 641,500 cubic meters according to Mauro Graca, the leader
of the Barra do Dande Ocean Terminal Project.
To
sum it all, it is clear by now that Sheikh Ahmed Bin Dalmook Al Maktoum, or say UAE
is all set to invest 600 million dollars on the oil storage plant in Angola.
Let’s see where this takes the country.
Other Reference Links
http://www.xinhuanet.com/english/2019-11/08/c_138539104.htm
https://www.chinadaily.com.cn/a/201911/08/WS5dc50bf8a310cf3e355763d6.html
http://www.juxtapost.com/site/permlink/8f15b1c0-f8af-11e8-a0f1-cb8a5a8faa1c/postboard/sheikh_ahmed_dalmook_al_maktoum/
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