According to a statement published on the government portal, the transfer was approved by João Lourenço, in a presidential order.
"The decision results from the need to transfer the ownership of Caioporto S.A, manager of the project for the implementation of the construction of the Port of Caio, to the Port of Cabinda E.P., given that the project of design, remodeling, engineering, construction and procurement is being developed by a company from the public domain that is not under the supervision and oversight of the Ministry of Transport," the statement said.
Thus, the Ministry of Transport "should take all measures" to ensure the transfer of shares and the "recognition of the investment made by the current holder of the shares".
According to the note, the transfer "should follow the procedures foreseen in the Commercial Companies Law".
The statement also indicates that the Finance Minister "should register as public debt the total value of the investment costs made by the Sovereign Fund of Angola," and that this debt "should be included in a debt agreement that includes the respective disbursement schedule".
