Business group from Singapore to invest US$931 million in Angola

8 October 2010

Luanda, Angola, 8 Oct – Eight companies from the Singapore-based DT group, plan to invest US$931 million in several business sectors under the terms of contracts signed Thursday in Luanda with Angola’s National Agency for Private Investment (ANIP).

The companies are Angofret, Errangol, Angorecycling, Transfuel, Pumangol, Pumangol Industrial, DTS Imobiliária and Angobetumes, some of which are already operating in Angola and other are being launched.

Angofret is tasked with building and managing three logistics platforms along the Benguela railroad, in Lobito, Catumbela and Huambo.

In the fuel sector, Pumangol has started construction of 200 fueling stations across the country, which it will also operate and Transfuel will transport oil derivatives and fuel.

Angorecycling and Errangol will be involved in the waste treatment and collection and scrap recycling sector, respectively.

At the end of the ceremony, the coordinator of the ANIP management commission, Aguinaldo Jaime, said that Angola, “continues to position itself as a secure place for private capital,” and that this investment showed, “a sign of confidence in the country’s economic and political framework.”

“With this signing, it will possible over the next while to provide increasingly competitive insertion of the national economy into the international (economy),” Jaime added.

The DT group, which is owned by the Trafigura BV and Cochan groups, with headquarters in Singapore, focuses its business on southern Africa, particularly in Angola, and has operations in countries such as Namibia, Mozambique, the Ivory Coast, the Democratic Republic of Congo, Cuba and the United States.

The group’s business focuses on the infrastructure, asset management, logistics, retail, services and trade sectors. (macauhub)