Menongue, Angola, 28 April – A rice production project in the Angolan municipal area of Cuito Cuanavale, was presented Wednesday in Menongue, in Angola’s Cuando Cubango province, by an official from the China CAMC Engineering Co. (CAMCE), Angolan news agency Angop reported.
The project, which has been approved by the Angolan government and is known as “Fazenda Agro-Industrial do Longa” (Longa Agri-Industrial Farm), was agreed in 2010 by CAMCE and the Angolan Ministry for Agriculture, Rural Development, fishing and the Environment and the funding had been secured by a credit line provided by the China Development Bank.
The manager of the Chinese company, which entered the Angolan market in 2004 at the recommendation of the Chinese government, said that the contract was worth US$76 million.
The experimental phase of the project, which will assess the capacity for rice production in an area of 1,500 hectares of irrigated land in two harvests per year, will be carried out next September and October.
On carrying out the presentation, the CAMCE manager said that the rice production and processing project was expected to produce 15,000 tons of rice over 60 months, using water from the Longa river.
The China CAMC Engineering Co., Ltd. (CAMCE) is a company registered at the Chinese Trade Ministry and which was listed on the Shenzhen Stock Exchange – a special economic area adjacent to Hong Kong – in June, 2006. (macauhub)