Macau businessman wants to start mining and drilling for oil and gas in Angola and Mozambique

23 June 2006

Lisbon, Portugal, 23 June – Macau businessman, Stanley ho said Thursday in Lisbon in an interview with Portuguese news agency Lusa, that he wants to begin mining operations and oil and gas drilling in Angola and Mozambique, in order to supply the growing needs of Chinese companies.

Ho said that Chinese economic growth had to be fed with increasing amounts of energy and that, with this in mind, “Mozambique and Angola will be important markets in the future.”

“Rapid Chinese economic growth make energy needs ever greater, namely oil, natural gas and minerals,” he said.

“This can be obtained, at the moment, in very limited areas of the world, so countries like Angola and Mozambique are in a position to become important partners for China,” Ho said.

Ho highlighted Macau’s role as a “platform to encourage commercial relations between China and Portuguese-speaking African countries.”

He also mentioned Geocapital’s role, a company created in Macau with Portuguese and Mozambican partners for the development of the Zambezi Valley, where the Cahora Bassa hydroelectric dam is located, in establishing this position.

Ho’s activities are focused on casinos, entertainment, transport and hotels, amongst others. (macauhub)