The Angolan private company Pumangol will invest $295m to build aircraft fuel storage and distribution units at airports in Luanda, Huíla, Benguela and Cunene, as indicated by the official investment contract signed in Luanda, Macauhub informed.

The project also aims to build a storage and distribution terminal for oil products at the fishing port of Luanda, with several tanks and a total capacity of 300,000 cubic meters. Furthermore, it includes the acquisition and installation of a conventional traction buoy, which is a mooring system used to transfer products such as oil and gas between oil tankers and coastal facilities, as well as the construction of a harbor quay in Luanda, Petroleum Africa reported.

The investment contract was signed with the Technical Unit for Private Investment (UTIP). UTIP’s Director-General, Cláudia Pedro, said the project would contribute to Angola’s growth by creating direct and indirect jobs with a major impact on the population’s living standards.

Pumangol is a partnership between Puma Energy, whose shareholders are the Swiss group Trafigura and Sonangol Holdings, and the Angolan private group Cochan.