Textile factories to be privatised in Angola go out to public consultation

11 March 2020

The privatisation of three textile factories built with public funds in the provinces of Luanda and Benguela, Kwanza Norte and Benguela will come up for public consultation on 18 March, as an initiative of the Institute of Management of State Assets and Stakeholdings (IGAPE).

The textile units that will be put out to tender are Nova Textang II (Luanda), África Têxtil (Benguela) and Satec (Kwanza Norte), on which the government of Angola has spent US$1.2 billion to recover the factories under an agreement signed with Japanese bank JBIC, with US$251 million for Nova Textang II and US$420 million each for África Têxtil and Satec.

Nova Textang and the other units were privatised in 2013 by the Ministry of Industry, through the Institute of Industrial Development of Angola, as part of a public tender that the Ministry of Industry had no powers to conduct, due to the level of investments involved.

The textile units are at a standstill, including Textang II, and have a production capacity of 9 million linear metres of fabric per year.

The statement released in Luanda also said that IGAPE has scheduled the public consultation on the privatisation of four agri-livestock projects for 19 March.

The projects are Camaiangala (Moxico), Longa (Kwando Kubango), Sanza Pombo (Uíge) and Cuimba (Zaire), with an area of approximately 45,000 hectares and an estimated value of US$110 million. (macauhub)

MACAUHUB FRENCH