Gema group builds steel factory in Angola’s Bengo province

30 July 2010

Lobito, Angola, 30 July – Angolan business group Gema three days ago presented an investment proposal to the Angolan National Private Investment Agency (ANIP), for construction of a steel factory in Bengo province, the group’s chairman, José Leitão said Wednesday in Lobito.

According to Angolan news agency Angop, Leitão said that the project was the result of a partnership with a Spanish company but declined to name it.

According to Leitão the future factory will be an investment of US$100 million and will have installed capacity to produce 500,000 tons of steel per year.

The Gema group is an Angolan holding company linked to the construction, banking, retail, oil, agriculture, entertainment and mining sectors. (macauhub)