Portuguese company Vitropor plans to expand by building a glass factory in the city of Matola, in Mozambique, as part of the Internationalisation in Partnership programme, said Portuguese businessman Pedro Aguiar.
The company’s expansion is included in a contract signed Wednesday under the terms of the programme, promoted by Caixa Capital, Mota-Engil Indústria e Inovação and Aicep Capital Global and which is intended to support the internationalisation of small and medium-sized Portuguese companies.
Vitropor, through this contract, is taking the first steps in its internationalisation and has the financial support of the programme’s partners which, altogether will own 49 percent of the Mozambique-registered company, as well as support from Portuguese investment and foreign trade agency Agência para o Investimento e Comércio Externo de Portugal (AICEP).
The Vitropor project will involve “investment of US$1.6 million,” the businessman told Portuguese news agency Lusa.
Currently, Vitropor, a family-owned company, has turnover of between 2 and 3 million euros a year, said Aguiar, noting that with the operation in Mozambique the company’s turnover is expected to rise to between 3 and 4 million euros.
This is the fifth investment project supported by this programme, following contracts signed with Solargus for Peru and with Nortenha, MGT and Metallic MTT for Angola.(macauhub/MZ/PT)