Chinese group signs contract to support construction sector in Angola

23 October 2017

The Technical Support Unit for Private Investment (UTAIP), of the Angolan Ministry of Construction and Public Works, and the China Building Technique Group Co (CBTGC) signed a US$1 million contract in Macau to support the construction sector and public works in Angola, according to Angolan state news agency Angop.

The agreement was signed during the Macau International Fair (MIF), which closed at the weekend, by the director of UTAIP, Cláudio Rodrigues, and the manager of CBTGC, Lu Jie.

Rodrigues also told Angop that the Angolan delegation had meetings with the Chinese companies interested in investing in Angola, which addressed issues related to the transfer of technology and training of Angolan technicians in the different areas of civil construction and public works.

“We want to attract private investment to continue to develop projects under public and private partnerships, whilst guaranteeing to reserve 35% of the value of the investment for Angolan entrepreneurs,” said the director of UTAIP.

Rodrigues, during a speech he made at MIF, said there are 99 Chinese companies licensed in Angola to support the construction and public works sector.

The director of UTAIP also recalled that the 29 construction and rehabilitation projects on 1,361 kilometres of roads in Angola, as well as construction of public buildings, involves Chinese labour.

Chinese companies, under the China Credit Line (LCC), have invested US$11.56 billion in infrastructure construction in Angola.(macauhub)