Sino-Angolan consortium buys Angolan national bridges company

8 October 2018

The Chinese-Angolan consortium made up of Angolan companies Adisandra and Feront and the China Road and Bridge Corporation (CRBC) has bought Angola’s national bridges company ENPA, the Angolan Ministry of Construction and Public Works said in a statement.

The official statement said ENPA was sold to the consortium for US$2 million and guaranteed the payment of 56 months of salaries in arrears.

The purchase and sale contract was signed by the Minister of Construction and Public Works, Manuel Tavares de Almeida, at an event attended by Chinese ambassador Cui Aimin and members of the Luanda provincial government, according to the statement.

The statement noted that ENPA is on the list of 74 public companies that the Government intends to privatise in the medium term, a matter that, although admitted on several occasions by official representatives, has not been detailed and the identity of all these companies is unknown.

The Sino-Angolan consortium has given assurances that by the end of this month, wage arrears amounting to 3.6 billion kwanzas (US$12 million) will be paid, as well as arrears of Income Tax, Social Security and debt to creditors, amounting to 1.8 billion kwanzas (US$6 million). (macauhub)