Korea’s Samsung involved in cement factory construction in Angola

19 April 2006

Sumbe, Angola, 19 April – A cement factory with an annual production capacity of 1.2 million tons will be built in Sumbe, in Kwanza-Sul province, Angola will be financed by Korean electronics manufacturer Samsung, the manager responsible for the project, Marco Sassa tols Angola news agency Angpop.

According to Sassa, the project is expected to cost some US$400 million.

The first phase of construction is due to begin in August and the project is scheduled to be concluded in 2008.

As well as the factory and equipment needed for it to operate a jetty in Sumbe to transport the merchandise from there and receive the necessary materials.

Prospecting of the area, which began in 2003, was concluded in July 2005, and led by a team of nine South Korean technical experts and four Angolan experts, who found the area had clay, limestone and other raw materials needed for manufacturing cement, with exploration reserves lasting up to 100 years.

This will be the first industrial project of its kind to be built in Kwanza-Sul.

The province of Kwanza-Sul is rich in mica, gold, quartz, iron, spa waters and diamonds, and covers an area of 58,620 square kilometers, with an estimated population of 2.5 million people. (macauhub)