Toyota Tsusho Corporation (“Toyota Tsusho”) has signed a contract with the Ministry of Transports of the Republic of Angola for the comprehensive development of Namibe Bay. This will be Toyota Tsusho’s first port development project in Angola. The contract amount is approximately 70 billion yen; part of the value is scheduled to be financed by the Japan Bank for International Cooperation (JBIC) and private financial institutions which will include Export Credit Line from the Nippon Export and...
Angola
Japan takes aim at Belt, Road with its largest port project destined for Angola
Japan is pushing ahead with its largest ever overseas port development, which flies in the face of neighbour China’s One Belt, One Road initiative. Trading house Toyota Tsusho and state-run Japan Bank for International Cooperation are joining forces to raise funds for a huge port in southern Angola...