French group Castel invests over US$1 billion in Angola

10 June 2014

French drinks group Castel since 1992 has invested over US$1 billion in Angola on building and expanding its factories in Luanda, Huambo, Benguela, Huila, Cabinda and Kwanza Norte, the group’s chairman said.

Pierre Castel told Angolan state newspaper Jornal de Angola that he considered the investment “a good bet” given that the Angolan economy is seeing robust growth and is a “stable market”.

The group invested US$500 million in the Luanda factories of Cobeje do Bom Jesus (US$170 million), Cuca (US$140 million), Nocal (US$120 million) and ECNN (US$80 million).

The units located outside Luanda required investments of US$300 million and US$100 million was invested in bottle-making factory Vidreira de Angola (Vidrul) to modernise technology.

The group’s latest investment – US$33 million – was to install a new mixed beer and soft drink can filling line at the Soba Catumbela factory, which supplies Benguela, Bié, Huambo, Huila and Namibe.

With its new line the Soba Catumbela factory’s production rose from monthly production of 55,000 hectolitres to 80,000 hectolitres of beer.

Beer making is one of the industrial sectors to post most growth in Angola after in 1994 factories with modern equipment were set up and the problem of a lack of raw materials was solved. (macauhub/AO)