Swiss investment company Quantum Global Group plans to invest US$50 million over the next five years in a global project for use of wood resources in the central highlands of Angola, the company said Tuesday.
In a statement on its website, the company headquartered in Zurich said it had been granted a 60-year concession on an 80,000-hectare plot of land for forestry.
Global Quantum, which works in conjunction with sovereign wealth funds and state agencies to set up partnerships and investment in Africa, said in a statement that it was a large plantation, in Huambo region, which represents a “unique opportunity worldwide. ”
In addition to planting trees, the announced investment includes construction of infrastructure and industrial units for the using the wood.
The statement said the central highlands of Angola had an exceptional combination of large areas of land to use, few forest resources, low population pressure, and access to transport and water resources in sufficient quantity to develop the project. (macauhub/AO)