Africa-Press – Angola. Angolan President João Lourenço authorized the sale of 60% of the shareholding that the State indirectly holds in the Porto Amboim Shipyard (PAENAL) company, in the province of Cuanza-Sul.
According to Presidential Decree 368/25, published in the Official Gazette, number 245, Series I, of December 31, 2025, on Monday, the shareholding that the State indirectly holds in PAENAL, through SONANGOL, will go to an identified strategic and technological partner.
The document delegates authority to the Minister of Finance, Vera Daves, with the power to subdelegate, to, in coordination with the Ministry of Mineral Resources, Petroleum and Gas, carry out all decision-making and supervisory approval acts, verification of the validity and legality of the entire procedure for the sale of the aforementioned shareholdings.
The order highlights the need to revitalize the facilities of the PAENAL Society in the coastal city of Porto Amboim, in order to support operations in the oil sector, generate jobs, develop the chain of small businesses supporting naval services, and reduce regional disparities.
“Considering that, in order to do so and given the high level of investment required to revitalize the asset, it appears essential to sell part of the share capital that the State holds through SONANGOL, in PAENAL – Porto Amboim Estaleiro Navais Limitada,” the document reads.
It clarifies that the measure stems from the fact that it was not possible to conclude the privatization of PAENAL authorized in Presidential Decree 250/19, of August 5, because the previously opened public tender was unsuccessful.
It cited that the public tender, launched on December 19, 2023, by SONANGOL, identified a strategic and technological partner to revitalize PAENAL’s infrastructure for the development of an integrated naval and industrial operations hub to support the oil sector, through an investment plan focused on the financial sustainability of the project.
PAENAL was inaugurated in 2008 with the goal of developing a shipyard focused on local content and increasing the manufacturing capacity of Angola. The company was initially formed as a joint venture between Sonangol with 40 percent and SBM with 30 percent.
At the end of 2010, the South Korean company DSME joined the joint venture with 30 percent.
The company, located in the municipality of Porto Amboim, 280 kilometers south of Luanda, is a shipyard focused on local content construction supporting the oil and gas industry operating offshore Angola.
PAENAL is a modern complex dedicated to the fabrication and construction of complex facilities and the provision of services for the oil and gas industry, whose shipyard occupies an area of 27 hectares.
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