Angolans and Germans invest in industrial hub in Angola

2 July 2015

Around US$350 million is expected to be invested in the construction of the largest industrial hub in southern Angola, in the city of Lubango in southern Huila province, by the Silvestre Tulumba e Investimentos group (STI).

Presenting the project, the President of the STI group, Silvestre Tulumba Kapose, said the funding had been secured through a partnership with German investors and the project included plans to build a brewery at the hub.

Tulumba said that at least 2,000 jobs would be created at the new hub, which is due to be built in the next four years.

Headquartered in Lubango and with a branch in Luanda, the STI group was founded 10 years ago and works in the real estate, hospitality, auto trade, food distribution and accessories sectors. This week it launched a large agricultural project in the Uaba commune valued at US$120 million in an area of ​​13,000 hectares. (macauhub/AO)