@Toyota: Toyota Tsusho and TOA Complete Comprehensive Development Project in Namibe Bay, Angola- Rehabilitation of Sacomar Port Iron Ore Export Terminal and Expansion of Namibe Port Container Terminal –

Toyota Tsusho Corporation (Headquarters: Nagoya, Aichi, President: Toshimitsu Imai)(“Toyota Tsusho”) and TOA CORPORATION (Headquarters: Shinjuku-Ku, Tokyo, President: Takeshi Hayakawa)(“TOA”) announced today that the rehabilitation of the Sacomar Port iron ore export terminal and the expansion of the Namibe Port container terminal, which were being advanced as a comprehensive development project in Namibe Bay, Republic of Angola, have been completed as of October 10.

The port infrastructure in the Republic of Angola has suffered significant damage and deterioration due to the prolonged civil war since its independence in 1975, becoming a major obstacle to economic development in the southern region. In particular, the Sacomar Port and Namibe Port play vital roles in mineral resource exports and the distribution of daily commodities, making their modernization and restoration of functionality an urgent priority.

This project, as part of the Angolan government’s port reconstruction plan, commenced construction in September 2022 after the consortium of TOA and Toyota Tsusho signed a contract with the Ministry of Transport of the Republic of Angola on January 11, 2019.

This project comprises two parts: the rehabilitation of the Sacomar Port iron ore export terminal and the expansion of the Namibe Port container terminal. Both ports are located in Namibe Bay.

(1) Rehabilitation of the Sacomar Port iron ore export terminal
The Sacomar Port opened in 1967 and served as a hub exporting iron ore from the Cassinga mine in southern Angola. However, operations at the mine and port ceased due to the civil war that lasted from 1975 to 2002. While the mine and port remained in a state of disrepair for many years, the Angolan government reopened the Cassinga mine as a national strategy, making the reconstruction of Sacomar Port, its export hub, essential.

This part of the project involved the construction of a new jetty for iron ore loading (approximately 520 meters in total length) and the development of the port backlands (hinterland).

The rehabilitation of the Sacomar Port iron ore export terminal will facilitate the resumption of exports of iron ore mined at the Cassinga mine in southern Angola. The expansion of iron ore exports is expected to promote industrial diversification in the Angolan economy, which has previously been heavily dependent on crude oil exports.

Current Sacomar Port

(2) Expansion of the Namibe Port container terminal
Namibe Port serves as a logistics hub in southern Angola, connecting to the inland as the starting point of the Moçâmedes Railway. However, the quay water depth was previously shallow, making it difficult for large container ships to call at the port. As a result, the port had to rely on Walvis Bay Port in the neighboring Republic of Namibia for some of its imports and exports.

This part of the project involved the construction of a container terminal, port dredging works, and the supply and installation of cargo handling equipment such as container cranes, vessel traffic services (VTS), and workboats. This enables the terminal to accommodate large vessels of up to 50,000 DWT (3,000 TEU).

The expansion of the Namibe Port container terminal will enable the berthing of large container ships, leading to a significant increase in cargo handling capacity. Furthermore, the southern region of the country, which previously relied on the neighboring country’s port for imports and exports, will now be able to conduct these operations on its own port. This is expected to stimulate the economy through reduced transportation costs and shorter transportation times.

Current Namibe Port

The completion of this project represents a significant step toward improving the lives of the Angolan people, fostering economic development in the southern region, as well as building the economic foundation for the country’s next generation. Toyota Tsusho and TOA will continue to contribute to the sustainable growth of Angola and other African nations.

Construction completion ceremony
(Shown at right in the photo: H.E. Mr. João Manuel Gonçalves LOURENÇO, President of the Republic of Angola)

[Overview of the Namibe Bay Comprehensive Development Project]

Location	Namibe Province, Republic of Angola
Contract partner	The Ministry of Transport of the Republic of Angola
Contract value	Approx. 70 billion yen or less
Financing	Cofinancing from the Japan Bank for International Cooperation (JBIC) and private financial institutions (with export credit insurance provided by Nippon Export and Investment Insurance (NEXI))
Contract overview	Namibe Bay comprehensive development (construction) contract （1）Construction of the Sacomar Port iron ore export jetty, dredging, and development of backlands, etc. （2）Expansion of Namibe Port container terminal, construction of a new terminal, dredging, supply and installation of cargo handling equipment such as container cranes, vessel traffic services (VTS), workboats, etc.

[Overview of Toyota Tsusho]

Company name	Toyota Tsusho Corporation
Location	9-8, Meieki 4-chome, Nakamura-ku, Nagoya, Aichi
Established	July 1, 1948
Capital	64,936 million yen
Representative	Toshimitsu Imai, President & CEO
Business description	Domestic and international trade of goods, export and import of goods, construction undertaking, insurance agents, etc.

[Overview of TOA CORPORATION]

Company name	TOA CORPORATION
Location	31F Shinjuku Park Tower, 3-7-1, Nishi-Shinjuku, Shinjuku-ku, Tokyo
Established	January 23, 1920
Capital	18,976.6 million yen
Representative	Takeshi Hayakawa, President and Representative Director
Business description	General construction (Main businesses: Marine civil engineering, land civil engineering, dredging and reclamation, building construction contracting, land development and sales, development, construction consulting, etc.)