Angola: Visabeira group prepares biofuel projects

8 May 2009

Viseu, Portugal, 8 May – The Visabeira group is preparing projects in the biofuel sector for Angola, which are due to be implemented in 2010, the group’s vice president, Paulo Varela said in Viseu Thursday.

Angola is the Visabeira group’s biggest market outside Portugal and its turnover in the African country last year totalled 60 million euros, or around 15 percent of the total for the group.

“We believe that the relative weighting will continue to increase. We are going to continue investing in the country, which is a normal thing,” said the vice president of Visabeira, which in Angola has businesses in the area of telecommunications, tourism and real estate.

According to Varela, a new investment area in Angola will be renewable energy and biofuel, and “the whole project should be set up in terms of business planning and partners established by the end of this year.”

Visabeira already has identical projects set up in Mozambique, which it plans to replicate in Angola, “possibly with the same partners, or with others.”

In Mozambique, Visabeira’s partners, via subsidiaries, are Galp Energia (in biofuel production) and Prio, of the Martifer Group (in agri-industry and oil production for food use).

According to Varela, for this year the Visabeira Group sees the main areas of growth in Angola as “expansion of TV Cabo Angola, construction of two hotels, one of which will begin in the first half in the city of Lubango, and two real estate projects, one for offices, and another residential one in the city of Huambo.”

“The expansion of hotel Praia Morena (Benguela) is also underway, which is a partnership with an Angolan group, and we are boosting its capacity from 50 to 135 rooms,” he added. (macauhub)