Angola: Companies invest US$310 million in sugar and ethanol production in Angola

4 June 2008

Luanda, Angola, 4 June – Two investment projects in the sugar industry, worth a total of US$310 million, have been presented to the Ministry of Industry, the national agro-industry director, Pedro Barros Katendi, said in Luanda.

According to Angolan news agency Angop, one of the projects belongs to Sociedade de Álcool e Agricultura Limitada (SOAL), an Angolan company, set up by Companhia Industrial de Frutos de Angola Limitada (CIFAL), with a stake owned by Spanish company, Alcohespa.

Valued at US$150 million, the project will make it possible to build an agro-industrial complex for ethanol production, using sorghum, which is expected to produce 2 million tonnes per year.

When approved, the SOAL project, which is to be implemented in Zaire province across and area of around 30,000 hectares, will create at least 500 jobs.

The second project, named “Sugar And Bio-Energy”, worth an estimated US$160 million, includes construction of a sugar and ethanol factory in Malanje province.

If this project is carried through it will cover an approximate area of 40,000 hectares, where in an initial stage it will produce some 180,000 tonnes of sugar each year.

Sugar And Bio-Energy is a partnership between South African company PGBI Ltd, and Angola’s Cielfil Agricultura Limitada. (macauhub)