Three business groups from Angola, Portugal and Brazil are to invest US$430m in building the Palanca Cimentos cement factory in the municipality of Lobito, in Angola’s Benguela province, under the terms of a contract signed Monday in Luanda with the National Private Investment Agency (ANIP).
The investment, by Angolan group Gema, with 40 per cent, Portugal’s Escom and Brazil’s Camargo Corrêa, both with 30 per cent, aims to build a factory with capacity to produce 1.8Mta of clinker and 1.6Mt of cement and create 550 direct jobs.
The laying of the first stone for construction of the industrial complex is scheduled for this Wednesday, and construction of the factory is due to begin within four months, according to news agency Angolahub.
The chairman of the Gema group, José Leitão, noted the importance of focusing on cement production as it was a strategic resource for all types of infrastructure construction and public works.
Leitão noted that Benguela province had been chosen for the project because it was a strategically located region, which would make distribution of the product to the north, centre, south and east of the country easier.