Angolan minister lays cornerstone for new plant

Angolan minister lays cornerstone for new  plant
Published: 29 July 2010

Angolan Minister of Urban Construction Jose Ferreira on Wednesday laid the first stone for "Palanca Cimentos" factory, the largest cement enterprise of the African country, in Hanha do Norte, Lobito district of the southern Benguela province.



The "Palanca Cimentos" project, with a total investment of some US$430m, was a joint venture by the companies of Grupo Gema (Angolan) with 40 per cent of participation, Escom (Portuguese) with 30 per cent, and Camargo Correa (Brazilian) with 30 per cent, according to the official Angop news agency.



During the ceremony, Minister Jose Ferreira stressed that the project must become a development factor of the district and the province was expected to play a key role in the reconstruction and development process.



The minister said it was the government’s priority to increase the production of building materials, mainly concrete, to sustain reconstruction programs and reduce housing deficit all over the country to improve the well being of Angolans.