Portuguese group Sociedade Lusa de Negócios (SLNI) is to build a cement factory in Angola under the terms of a contract signed Monday in Luanda with the Angolan National Private Investment Agency (ANIP), Angolan news agency Angop reported.
The project know as SLN – Fabrica de Cimento e Clinker de Benguela (Benguela Cement and Clinker Factory) represents an investment of US$294m and involves the Angolan Armed Forces Social Security System and other private national investors.
The project, which will be built in the city of Lobito, Benguela province, and is due to begin in 90 days, will begin with construction of support facilities and social equipment, as well as creation of port and rail facilities. SLN – Fábrica de Cimento e Clinker de Benguela, which will take four years to build, in its first three years is expected to produce 910,000t of cement, which will increase to 1.8Mt by 2016.
The SLNI group project was approved by the Angolan government in October, 2009.