Angola: Chinese group Norinco wants to invest in Angola

23 June 2008

Luanda, Angola, 23 June – Chinese group Norinco said Friday in Luanda it was available to invest in infrastructures in Angola, such as in railways, roads, energy and telecommunications.

The vice president of Norinco, Zhi Yulin, told journalista, at the end of na audience with Angola´s president that the group planned to a “great contribution” to the process of reconstruction in Angola and guaranteed that Money “is not a problem.”

Norinco, according to Zhu, is studying its investment project with the Angolan government and is now waiting for priority áreas to be identified.

The Chinese group is not yet set up in Angola, but already has 20 years of experience in Africa.

Norinco is a group of 100 Chinese companies, which was created 28 years ago and is present in over 30 countries.

Several Chinese companies are present in Angola involved in the recuperation and construction of infrastructures such as roads, railways, schools and medical centres.

Trade between Angola and China in 2007 exceeded US$10 billion, with Angola, according to Chinese news agency Xinhua, China’s biggest economic partner in Africa, ahead of South Africa. (macauhub)