Angola: Angolan industry expected to see investment of US$6.5 billion by 2013

30 June 2008

Lubango, Angola, 30 June – Angola’s industrial development programme, between 2009 and 2013, is expected to cost US$6.5 billion, Angola’s industry minister, Joaquim David said Thursday in Huíla province.

The minister was speaking of the sector’s prospects for development at a meeting of the widened consultation council of the inustry ministry, which ended Friday in Lubango.

According to Angolan news agency Angop, the minister said that of this amount the State would provide US$800 million, and the remainder would be funded privately.

He said that in this period economic growth had been forecast ato ver 50 percent, noting that the government had approved a “considerably” ambitious programme for these four years.

David said that projections pointed to the creation of 70,000 new direct jobs and 200,000 indirect jobs.

” (…) it is clear that this effort will be the result of some structural industries, such as aluminium and the intensive use of electricity, and therfore in this period construction will begin of a complex to refine and produce aluminium, which alone will cost US$2.5 billion,” the minister said.

He also said that there were other large projects in mind in the metals sector, including construction of a further one or two foundries, as well as in the petrochemical sector, ethanol, fertilisers and ammonia.

He also noted that in the period there were plans for at least one more oil refinery and two or three projects in the sugar sector, which would require investments of around US$5 billion.

The consultation council of the industry ministry over tow days discussed issues such as, “the role of the agricultural sector in developing industry in Angola,” “Biofuels and the case of agri-industry,” “The importance of basic infrastructures to industrial activities,” and “Project to set up conditions to support electricity production.” (macauhub)