| Mon 21 Apr 2008, 9:36 | | LAF - Lonrho To Develop A Bonded `Dry Port` Logist |
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LAF
LOLAF
LAF - Lonrho To Develop A Bonded `Dry Port` Logistics Centre In Luanda,
Angola With Enditrade Logistica Integrada
Lonrho Plc
(Formerly Lonrho Africa Plc)
(Incorporated and registered in England and Wales)
(Registration number 2805337)
(Share code: LAF; ISIN number: GB0002568813)
("Lonrho Africa" or "the Company")
Lonrho to develop a bonded `dry port` logistics centre in Luanda, Angola with
Enditrade Logistica Integrada
21st April 2008
Lonrho Plc (AIM: LONR), the conglomerate with a structured portfolio of
African investments, today announces that it has signed an agreement with
Enditrade Logistica Integrada Sarl ("Enitrade") to establish a new logistics
centre and bonded `dry port` in Luanda, Angola, to be known as the Enditrade
Logistics Terminal ("ELT").
Enditrade, a logistics group, is a 100% owned subsidiary of the Angolan State
owned company, Endiama.
When developed, ELT will comprise a new 3,867m2 office development and a
15,000m2 bonded `dry port` facility. It will be developed on existing, zoned,
Enditrade owned land at Grafanil, Luanda. This location has been chosen for
its excellent access to major road systems and its proximity to the new
Luanda airport currently under development.
Initially focused on the requirements of the mining industry, the `dry port`
will provide a fast track solution for goods being imported into Angola to
support the development of Angolan industry. Currently there is severe
congestion at all the major Angolan ports, often causing delays of up to
three months to clear goods. This has developed as a result of the rapid
growth of the Angolan economy. The backlogs and delays are a growing concern
for local industry.
ELT has been developed by Enditrade as a solution to help reduce the
significant congestion at Luanda and other ports, by providing the ability
for designated containers and cargoes to be rapidly offloaded at the port and
delivered in bond to the new secure facility. They will then be cleared by
customs officials based at ELT for delivery to customers throughout Angola.
The state of the art terminal will utilise the latest technology in container
handling systems and equipment to provide an efficient and rapid service to
its customers, and help to reduce congestion at sea ports.
The 20,733m2 ELT facility will cost US$ 9.0 million to develop. A new
Angolan company has been established for the project, ELT Luanda, which will
be owned as to 51% by Lonrho; 30% by Enditrade and 19% by Project Net.
Following repayment of all commercial loans for the project, dividends will
be split 40% Lonrho; 35% Enditrade and 25% Project Net.
Enditrade will lease the site for 20 years to ELT Luanda, on a peppercorn
rent, and will co-manage the operation with Lonrho.
Project Net, an Angolan project development company, will project manage the
development of the facility and arrange local commercial funding for the
development. Lonrho will provide funds for the balance of the project cost
not available from the local market.
Enditrade has obtained planning and customs authority for the development of
the project which is scheduled to be completed and operational within nine
months of the development commencing.
David Lenigas, Lonrho`s Executive Chairman commented:
"This is a significant project that will bring direct benefits to the
economic growth of industry in Angola. The Enditrade Logistics Terminal will
provide modern, efficient logistics solutions that will fast track the
movement of goods into and around the country.
"I am confident that this facility, once operational, will be able to be
replicated in conjunction with Enditrade on other sites in Angola to create a
network of state of the art logistics terminals that will begin to address
the requirements of the Angolan market."
ENQUIRIES
Lonrho Plc +44 (0)20 7016 5105
David Lenigas, Executive Chairman +44 (0)7881 825 378
Geoffrey White, Chief Executive +44 (0)7717 307 308
Officer
Emma de +44 (0)7867 785 177
Borchgrave, Executive Director
Pelham PR
Charles Vivian +44 (0) 20 7743 6672
+44 (0) 7977 297903
James MacFarlane +44 (0) 20 7743 6375
+44 (0) 7841 672831
Collins Stewart Europe : NOMAD to
Lonrho
Hugh Field / Simon Alston +44 (0) 20 7523 8350
NOTES TO EDITORS
About LONRHO:
Lonrho Plc is an expanding conglomerate that is rapidly growing a successful
business throughout Africa. The Company`s shares are traded on the London AIM
stock exchange (LONR). Lonrho is strategically focused on the development of
business opportunities in infrastructure, transportation, support services
and natural resources. The Company has over 20,000 shareholders and
substantial institutional backing to support its mandate to build a
profitable business that plays a fundamental role in the development of the
African economy.
Since 2006, the Company has invested in or acquired control of:
Hotel Cardoso - www.hotelcardoso.co.mz
Lonrho Mining - www.lonrhomining.com
Luba Freeport - www.lubafreeport.com
Fly540 - www.fly540.com
Norse Air - www.norseair.co.za
Swissta Holdings - www.swissta.com
SA Independent Liner Services - www.saliners.com
Bytes and Pieces
Kwikbuild - www.e-kwikbuild.com
South African sponsor to Lonrho Africa Plc
Java Capital (Proprietary) Limited
Date: 21/04/2008 09:36:01 Produced by the JSE SENS Department.
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