Angola: Portuguese business group invests 5 million euros in Angola

20 November 2008

Luanda, Angola, 20 Nov – The Portuguese business group headed up by businessman Gomes de Castro hás na investment of 5 million euros underway in Angola for teh construction of three new Maquil retail units.

“The value of investments is shared out equally across the three facilities to be built on our own land in the cities of Luanda, Lobito (Benguela) and Namibe,” said Gomes de Castro in a statement sent to Angolan news agency Angop.

According to Castro, the new retail areas, which will be ready in 2009, are replacing old units, built in 1990, in the same locations.

With this modernisation, Maquil will increase its retail space five-fold and its turnover is expected to increase proportionately. Turnover this year is projected to be 90 million euros.

Maquil provides the Angolan market with all kinds of equipment for practically all business sectors and segments, including agriculture, construction, water, electricity, mechanics, security, hospital equipment and hotel equipment.

The structure of the new facilities is manufactured in Portugal and will be shipped to Angola in 40 feet containers. (macauhub)