Angola invests in Sao Tome port and airport
5 May 2011
Some $12 million (£7.2 million) is to be invested by Angola's state-owned oil company Sonangol to improve the Sao Tome and Principe port.
The funding will be used to help improve the small island nation's port and airport, the government revealed.
Sonangol's Batista Sumbe said the company wanted to help make Sao Tome a hub for the region, Reuters reported.
Sonangol will invest $5 million in the Ana Chaves port and just over $7 million in the country's international airport, Carlos Vila Nova, Sao Tome's minister for natural resources, said.
Indeed, the investment forms part of a 30-year contract signed by the firm to run both the sea and air ports in the nation, with further investments expected over the course of the contract.
Sonangol is hoping to benefit from Sao Tome's location in the oil-producing Gulf of Guinea, the news source added.
Elsewhere, it was recently reported that the Angolan government wants see 80 per cent of the country given access to clean drinking water by 2012.