Luanda, Angola, 29 March – Angola will soon start producing low, medium and high voltage electrical cables with the opening of the Quintas & Quintas Angola factory, according to the AngolaAcontece website.
Located in the municipality of Viana in Luanda, the factory will have an area of 2,400 square meters and each month will produce around 80 kilometers of insulated cables and 25,000 kilomers of aluminum cables for public lighting, in an initial phase, although it total production capacity will depend on the demands of the market.
The factory, which is budgeted to cost around US$4.2 million, is the result of the privatization of the assets of the former cable factory and its shareholders are the Quintas $ Quintas group, with 51 percent, the Angolan Industrial Development Institute (IDIA) with 25 percent, Cabel, with 12 percent, its workers with 6 percent and small shareholder also with 6 percent.
The Quintas & Quintas group last year had turnover of some US$1.7 million, and in 2009 hopes to reach turnover of more than US$6 million. (macauhub)