Portuguese companies set up partnership in Angola

19 May 2014

Mota-Engil Angola and Visabeira Global, of Portuguese groups Mota-Engil and Visabeira, have set up a partnership in Angola called Vista Power to operate in the energy, transport and electricity distribution sectors the companies said in a statement.

The investment contract was signed cast Thursday, 15 May, with the Angolan National Private Investment Agency during a session in which 24 new contracts were signed worth a total of US$39 million.

The investment initially made in Vista Power totals US43 million and the new company will have its headquarters in Huambo and operate across the whole of Angola, specifically in the areas of construction and maintenance of infrastructure in the electricity sector.

After the contracts were signed the president of ANIP, Maria Luísa Abrantes, said she was happy that half of the 24 contracts focused on small projects in the manufacturing industry.

“Since the second half of 2013 we have seen a growing number of projects linked to industrial activities as well as investors that locate their projects outside Luanda province,” the president of ANIP said according to Angolan news agency Angop. (macauhub/AO/PT)