Angola’s Bioenergy Company expects a turnover of US$300 million in 2018

27 April 2018

Angolan bioenergy company Biocom expects turnover of US$300 million this year with the sale of 100,000 tons of sugar, 20,300 cubic meters of ethanol and 110 gigawatt hours of electricity, an increase of US$130 million compared to turnover in 2017, the company’s deputy director general said in Malanje.

Luís Bagorro Júnior, on the sidelines of the beginning of the harvest of 18,000 hectares of sugar cane for the 2018 agricultural year, also said that the figures he mentioned reflect the efforts made by the company, despite the difficulty in accessing foreign currency.

The company needs foreign currency to buy agricultural inputs and spare parts to keep machinery purchased abroad operating, as well as to pay the wages of foreign workers. These high operational costs reduce the company’s productivity and result in the price of sugar produced in the country by Biocom being similar to that of imported sugar.

Last year Biocom produced 58,000 tons of sugar, 13,500 cubic metres of ethanol and 60 gigawatts of electricity.

Installed in the municipality of Cacuso, 75 kilometres from the city of Malanje, Biocom is one of the largest Angolan agro-industrial projects, led by Brazilian group Odebrecht, which owns 40% of the company. The remaining 60% is shared between the Angolan private company Cochan, with 40% and Angola’s state-owned oil company Sonangol, with 20%. (macauhub)