Angolan company Medvid will invest US$24 million in building a factory for production of dressings and medical gauzes, under a contract signed Friday with the Technical Unit for Private Investment (UTIP).
The investment will be used for construction of the factory facilities, buildings and warehouses, as well as to purchase machinery and equipment needed to operate the factory.
This project, which is expected to be carried out in the first quarter of 2016 will be built in the Luanda-Bengo Special Economic Zone and create 100 jobs, mostly for Angolans.
Initial production from the factory – dressings and gauze for ophthalmic treatment, cleaning of medical and surgical instruments and bandages – will cover 90 percent of Angola’s needs for such products and substitute imports worth US$7.5 million. (macauhub/AO)