Angola: Beer makers sign investment contracts

17 December 2007

Luanda, Angola, 17 Dec – Three Angolan beer makers – Cuca, Nocal and EKA – Friday in Luanda signed investment contracts with the Angolan National Private Investment Agency (ANIP) for reconstruction, modernization and expansion of their respective factories.

According to the contracts signed, which were previously approved by the Council of Ministers, Cuca will invest US$131 million, EKA US$42 million and Nocal US$73 million.

With this investment, the three companies will triple their number of employment positions from a current 2,500 and production will increase from 770 hectoliters to 6,000 hectoliters per month.

The privatization process of the three beer companies began in 2005 and has already been concluded. (macauhub)