The President of Angola canceled the contracts for the re-qualification of the zone adjacent to the Bay of Luanda that had been celebrated in 2016by José Eduardo dos Santos.
João Lourenço gave instructions to the Minister of Construction and Public Works to renegotiate new contracts for the completion of the Marginal da Corimba requalification project after detecting an "over-billing in values" and whose services proved to be "onerous for the State."
In a decree dated May 15, the President of Angola, declares the cancellation of the contracts signed in 2016, by the then president José Eduardo dos Santos.
These contracts, according to the current decree, imposed "manifestly disproportionate counter-benefits, in violation of the principles of morality, justice, transparency, economy and respect for public property, underlying public procurement."
The contract for dredging, land reclamation and protection of the coast was signed with the companies Urbinveste - Promoção e Projectos Imobiliários, SA (of Isabel dos Santos) and Van Oord Dredging and Marine Contractors BV, both in an external consortium, in the total value of US$615 million, and the US$690million contract for design, project and constructing, execution and completion of the infrastructures was celebrated with the companies Landscape - Promoções e Projectos Imobiliários, Limitada and China Road and Bridge Corporation, also in an external consortium.
João Lourenço told the Construction Minister Manuel Tavares de Almeida that the renegotiation of the new contracts will be carried out with Van Oord Dredeing and Marine Contractors BV and China Road and Bridge Corporation (Branch in Angola), holders of external financing, "with a reduction to the limits of the values of the initial projects, by means of simplified contracting procedure by the material criterion".
Out of this process is the company Urbinveste, owned by Isabel dos Santos.