Cape Verde: Italian group invests 10 million euros in two factories on Sal island

11 February 2008

Praia, Cape Verde, 11 Feb – Italian business group Stefanina Friday in the cape Verdean island of Sal opened a construction materials factory and cement factory, at an investment of around 10 million euros, officials said.

Located in the area of Palmeira, far from the tourism area of Santa Maria, Inteco is a construction moulds and materials factory and Cabocem will produce cement and other derivatives.

Stefanina began investing in Cape Verde in the 1990s, in tourism, by creating Turinvest Holding.

The group currently has hotels, restaurants, real estate companies and tour operators, as well as investments in areas such as architecture and engineering, import and export, and employs 700 people in Cape Verde.

Inteco has capital of 800 million Cape Verdean escudos and is 90 percent owned by Turisinvest Holding and 10 percent directly owned by Andrea Stefanina. It is the Stefanina group’s fifth company in the industrial sector and covers an area of 30,000 square meters. (macauhub)