Subsidiary of Chinese group CITIC builds factory in Angola

9 November 2016

CITIC Aluminium Angola, Lda., a subsidiary of Chinese group CITIC, is investing US$40 million in an aluminum frame factory under construction in the Luanda-Bengo Special Economic Zone (EEZ), the deputy governor of Luanda for the economic sector said on Tuesday.

José Cerqueira, who was visiting the EEZ in the company of potential Chinese investors, said the factory, located in a plot of 20 hectares and be operational in the second quarter of 2017 is expected to have production of 10,000 tonnes of aluminium frames in an initial phase and create 350 direct jobs.

During the visit, Chinese investors had the opportunity to find out about the units installed in the region and announced they plan to establish investment partnerships in infrastructure such as factories to manufacture sanitary ware, mortar, glass processing and tiles, among others.

This visit to the EEZ was part of the Angola-China Investment Forum which brought together in Luanda over 1,500 Angolan and Chinese investors and aimed to create an environment to enable economic cooperation and combine factors of business strategies aimed at attracting investment to projects that need funding.

During the two-day event, Angolan and Chinese businesspeople signed several private investment contract in agriculture, fisheries, geology and mining, construction, industry, and showed they intended to speed up the implementation of sector projects. (macauhub)