Angola’s Alassola places more than 450 tons of cotton thread on the Portuguese market

21 May 2018

Angolan textile company Alassola exported 454 ton of cotton thread to Portugal between October 2017 and 12 May under the business’ internationalisation project, industrial director Hioshi Yamamoto said on the sidelines of the 8th edition of the Benguela International Fair (FIB), which ran from 16 to 20 May.

Yamamoto also told the Angolan news agency in a statement on Saturday that the fourth shipment, with 154 tons in 10 containers, left the port of Lobito in the week of 6 to 12 May.

The industrial director said that cotton thread is an intermediate product that the factory has been selling while looking for definitive solutions to start the entire production chain. It needs to raise an additional US$60 million to import raw materials, in particular, cotton, dyes and other primary and secondary chemicals.

Alassola is a company operating in Benguela province, which is the successor to the extinct Africa Têxtil, which, after being inaugurated in 1979, halted its activity in 1998 and declared bankruptcy in 2000.

The project for the recovery, expansion and equipping of the textile industries in Angola was financed by a Japanese government credit line and includes three large fabric factories, Textang II, in the country’s capital, the Sociedade Angolana de Tecidos Estampados Comerciais (Satec), located in the province of Kwanza Norte and Alassola in Benguela. (macauhub)