Angola needs to invest in energy to speed up industrialisation

29 April 2010

Luanda, Angola, 29 April – Angola will have to invest US$18 billion in the production, transmission and distribution of electricity by 2018 in order to not hamper the country’s industrialisation project, the Angolan Minister of State said Wednesday in Luanda.

Carlos Maria Feijó said that the investments were necessary taking into consideration the current challenges and the country’s long term industrialisation programme.

Cited by Angolan news agency Angop, Feijó said that in order to meet the immediate needs of the city of Luanda the government would order construction, in the town of Soyo, Zaire province, of a combined-cycle power plant with an installed capacity of 400 megawatts.

Another project that will be carried out soon, in the power generation sector, the minister added, was the expansion of the Cambambe dam in Kwanza Norte province, via construction of a second power plant, which will increase capacity to 700 megawatts.

The Cambambe dam, which was built in the 1950s, has an installed capacity of 180 megawatts.

The minister said that due to the high amounts of investment required for execution of the projects by 2018, the government would seek out the best ways of funding (internal and external) in order not to place pressure on the State Budget. (macauhub)