Luso-Angolan company invests in semi-industrial fishing in Sao Tome and Principe

5 April 2013

Luso-Angolan company Geo-pesca plans to invest around 4 million euros in Sao Tome and Principe in a semi-industrial fishing project, according to TVS, the archipelago’s public television station.

The group’s spokesman, Victor Madaleno, said that Geo-pesca already had three appropriate fishing vessels on the archipelago, which were ready to launch fishing activities, creating around 60 direct jobs.

According to the TV station, the project launched by Geo-pesca will start operating within two weeks, and that all that was needed was to settle some details with the Sao Tome authorities.

In order to set up the project in Sao Tome and Principe, the TV station said that Geo-pesca, a company that has been operating in Angola for around a year, has already invested around 1 million euros. (macauhub)