Angolan agency signs 12 more private investment contracts

29 August 2014

Angola’s National Agency for Private Investment (ANIP) Thursday in Luanda signed a further 12 investment contracts with Angolan and foreign companies, with a combined value of US$480 million.

One of the contracts is related to a Companhia de Bioenergia de Angola (Biocom) project that is currently nearing completion investment in which will increase to US$750 million.

According to the Biocom board of directors, the agreement signed Thursday is an addition to the initial investment approved in 2008.

Electricity production begins next September with an initial 120 megawatts, the company said recently. sugar and ethanol production is also due to begin in September and the company expects to produce 18,00 tons of sugar and 3 million litres of ethanol per year.

Biocom, which is part of the Capanda Agro-Industrial Complex, is a partnership between the Angolan State, through the National Private Investment Agency (ANIP) and Sonangol Holding, with a 20 percent stake, Angolan group Damer and Brazil’s Odebrecht, with 40 percent each. (macauhub/AO)