Dubai Investments, which is 11-percent owned by state-owned Investment Corporation of Dubai, one of the world’s largest investment funds, plans to select a site for the construction of an industrial park in Angola, the Africa Monitor newsletter reported.
The newsletter said three possible locations are under consideration and the final choice must be made at the end of March.
The land will be made available by the government of Angola and will be between 45 and 50 square kilometres. The project involves a partnership with local investors, leaving Dubai Investments with 80 percent of the company’s capital.
The project will be modelled on a park developed in the United Arab Emirates – Dubai Investments Park – with a similar investment carried out in Saudi Arabia costing almost US$400 million. (macauhub/AO)