Portuguese-Mozambican consortium buys textile factory in Mozambique

15 October 2012

A consortium made up of Mozambican group Intelec Holdings and by Portuguese companies Crispim Abreu, Mundifios and MundoTêxtil, Friday signed a contract in Maputo to buy the Riopele Moçambique factory, in Maputo province.

The chairman of state stake-holding company Instituto de Gestão das Participações do Estado (Igepe), Apolinário Pelembe, said at the time that the acquisition of Riopele Moçambique by the consortium was a “brave move,” as the factory had been closed for a long time.

Pelembe added that Riopele was important for Mozambique’s development, as the country is facing serious difficulties in the textile sector.

Located in the Marracuene district of Maputo province, the factory is expected to re-launch production in the first quarter of 2013, after conclusion of its first phase that involves buying and installing the necessary equipment, which the consortium expects will cost US$40 million.

This investment project, which is expected to be a “benchmark agri-industrial project,” will be officially presented on Wednesday.

Recent reports said that Riopele Moçambique was about to be bought by Chinese investors, but this operation failed for unknown reasons. (macauhub)