Top 5 Projects in Angola
Diversifying Angola’s economy away from its reliance on oil revenues is a priority for the government. More than $22 billion of projects in Angola is under construction, with another $40 billion on the drawing board.
Angola’s population will grow by more than 36 per cent over the next decade to cross 46 million from the current 34 million. Angola was massively affected by the COVID-19 pandemic, as oil prices plummeted during 2020. Diversifying the economy away from its reliance on oil is now a priority for the government.
Less than 45 per cent of Angolans have access to reliable power. Two of the top 5 projects in Angola are power-related, underlining the governments desire to improve the power infrastructure to support economic diversification. Angola has a project pipeline exceeding $62 billion, of which $22 billion is currently under construction.
ABiQ’s top 5 projects in Angola are:
Caculo Cabaça Hydroelectric Project
The project includes constructing a new dam with a 103-metre high wall and a capacity of 440 million cubic metres. The hydropower plant will have an installed capacity of 2.1 Gigawatts once completed in 2025. Developed by the Angola Ministry of Energy and Water and construction work is carried out by China Gezhouba Group Company.
MCA Solar Project 950 MW
The project is developed on seven sites across Angola and once completed, this mega solar project will have a capacity of 950 MWp. The Swedish Export Credit Corporation and the Development Bank of Southern Africa provide funding, while Hitachi ABB Power Grids Limited will provide materials.
Zinia Phase 2 Project
Total E&P Angola is developing the estimated $1.2 billion ultra-deepwater Zinia phase 2. The work includes new wells, gathering lines and interconnecting lines to deliver crude to an existing FPSO. TechnipFMC and Subsea 7 are the main contractors.
Caio Deep Water Port
A Public-Private-Partnership between the government of Angola, Caioporto SA and China Road and Bridge Corporation is developing the deepwater port. The Export-Import Bank of China and Fundo Soberano de Angola is providing the funds for the development.
The greenfield refinery will have a capacity of 60 thousand barrels of oil per day. Sonangol E&P and Gemcorp are developing the refinery jointly.
For more information on these projects, please reach out to us here.