Angola’s National Agency for Private Investment (ANIP) Tuesday in Luanda signed six private investment contracts for the manufacturing industries, services, and wholesale and retail trade, according to Angolan news agency Angop.

Of the six projects, worth a total of US$163.9 million, the most significant is construction of a steel making plant in Bengo province by the Gesimet consortium, which is a partnership between Grupo Gema (Angola) and a Spanish steel sector company.

According to the chairman of Grupo Gema, José Leitão, the Spanish side took a 74 percent stake in Gesimet com 74% and Gema took 23 percent, whilst the remaining 3 percent is owned by individual shareholders.

Under the terms of the agreement signed with ANIP the consortium has 18 months to launch the project.

Along with Gesimet the following groups also signed agreements with ANIP: Multilem (design, construction and advertising), Socifarma, Impulso Angola, Inovia – Electrónica de Angola, and Mercoforma. (macauhub)