CITIC Alumínio Angola’s aluminium profile factory was inaugurated on Tuesday in the Luanda-Bengo Special Economic Zone in Viana, following an investment of US$40 million, the Angolan press reported.
The plant is the result of a joint investment between CITIC Construction and CITIC Bohai Aluminum Industries Holding Company Limited, will occupy an area of 20 hectares and is expected to produce about 10,000 tonnes of aluminium profiles for the industry annually.
Licínio Vaz Contreiras, president of the Private Investment and Export Promotion Agency (Aipex), said he expected the project to cover a significant part of the needs of the Angolan market, thereby contributing to the reduction of imports of aluminium and similar profiles, easing pressure on the country’s foreign exchange reserves.
China’s new ambassador to Angola, Gong Tao, noted that the new facility is CTTIC (Angola)’s largest aluminium profile factory, and recalled the investments that companies from China have made in Angola in recent years, namely in agriculture and processing of agricultural products and building materials.
The investment project for this plant was approved on 19 April 2017 by the since closed Technical Unit for Private Investment. (Macauhub)