Angola’s Benguela province has more than 50 companies in need of investment

19 July 2010

Lisbon, Portugal, 19 Jul – Angola’s Benguela province counts more than 50 companies either underused or in a semi-suspended state of operation which may constitute investment opportunities for Portuguese entrepreneurs, indicates a study by the Portuguese Industrial Association (AIP).

The study on Benguela province to be presented this week in Angola identifies the fishing and industrial fish transformation, large-scale agriculture and tourism sectors, along with all types of road infrastructures, as some of the investment priorities.

The region contains “industrial, oils, soap, milling (industrial and artisanal), pasta and beverage units, as well as two sugar production plants (along with the Dombo Grande unit which may be restorable) and others for animal feed and salt”.

Besides the transformation and agro-food industry, the development priorities assumed by political and institutional authorities also encompass the tourism sector, including hotel investment, restaurants and the offer of complementary services, namely linked to the sea.

Another area offering opportunities to investors concerns energy resources. Besides the Benguela refinery and the development of pilot projects for renewable energy, it includes the restoration of hydroelectric dams and investments planned or under way to supply power and rebuild support infrastructures, on the order of US$172 million.

Other identified ‘assets’ include the construction of an integral water supply system for the province from Baia Farta and a set of priorities identified by local administrations to be completed by 2013, such as rebuilding 2,650 km of roads.

Benguela counts an estimated population of about 1.5 million inhabitants, most of them young, or about 10 percent of Angola’s total population, in the province’s four main urban areas: Benguela, Lobito, Catumbela and Baia Farta. (macauhub)