Cement company Secil signed an agreement with the Angolan National Private Investment Agency (ANIP) for construction of a cement and clinker factory in Benguela province.
The new cement factory, which represents an investment of US$91m, will begin operating in 2010 and have a production capacity of 600,000t of cement per year and create 314 direct jobs and 1,000 indirect jobs.
The investment contract for construction of the cement and clinker factory was signed by the chairman of ANIP, Carlos Fernandes, and by the chairman of the board of Secil-Comapanhia de Cimentos do Lobito, Sérgio Martins.
The project named "Nova Fábrica de Cimento e Clinker-Secil Lobito" (New Secil Lobito Cement and Clinker Factory) was approved in a session of the Council of Mnisters on October 26.
Reconstruction work on the infrastructure destroyed in the civil war generates cement consumption in Angola of an estimated 4 million tons per year, which mainly has to be imported as the two cement factories (Nova Cimangola and Fábrica do Lobito) have a combined production of just 1.5Mta.