Angola to have another cement factory at a cost of US$91 million

29 October 2007

Luanda, Angola, 29 Oct – Angola will have a new cement factory due to private investment of some US$91 million and called Nova Fábrica de Cimento do Lobito, which was approved Friday by the Angolan government.

The project, which will be carried out in a mining area by Portuguese-owned Secil Companhia de Cimentos do Lobito, includes the creation of 314 direct jobs, according to a statement from the Council of Ministers.

On Thursday, the chairman of Nova Cimangola, Ruio Ferreira, said that the company had to import 600,000 tons of clinker, with a value of almost US$54 million, to keep production at 1.2 million tons per year.

Ferreira also said that as well as importing clinker, Nova Cimangola also imported 80,000 tons of chalk, as its reserves, in Bengo province, had long since run out.

In order to overcome the lack of this raw material (clinker), and based on increasing demand for cement in the country, the cement company plans to invest, over the next few years, US$200 million in building a new oven, in Cacuaco municipality, with capacity to produce 2 million tons per year.

Set up in 1957, the cement company has shareholders such as Ciminvest, with 49 percent, Cimangola UEE, with 40.20 percent, Banco Africano de Investimentos (BAI), with 9.52 percent and small shareholders with 1.28 percent. (macauhub)