Portuguese group invests in quarrying ornamental stone in Angola

31 December 2013

The Portuguese group MGT-Mármores e Granitos Transmontanos plans to set up a unit in Angola to quarry, transform and market ornamental stone, its president Artur Pereira told the newspaper A Voz de Chaves.

To carry out the project the group from northern Portugal counts on investment from partners in the ‘Internationalise in Partnership’ programme, Mota-Engil Indústria, Caixa Geral de Depósitos and Portugal Ventures. The respective agreement was signed last 11 December.

The new company will be called SMGT Angola, with Sociedade de Mármores Central Transmontana (a company of the MGT group) holding 51 percent of the capital and the programme partners together holding the remaining 49 percent. It will be based in Catumbela, between Benguela and Lobito.

Artur Pereira is president of the group comprising the companies Sociedade de Mármores Central Transmontana, Pedra Nossa and Granivale. He told the newspaper that the initial investment was estimated at 5.4 million euros and would create 37 new jobs. (macauhub)