Portugal Secil to invest more in Lobito

Portugal Secil to invest more in Lobito
Published: 02 August 2005

Portuguese cement producer Secil will invest some Euro 50m in the construction of a cement plant located in the port city of Lobito, northwestern Angola, it was reported on July 30, 2005.  The plant is projected to start operations in 2008. Its initial output capacity will be for the production of 400,000tpa. Secil will control 51 per cent of the new plant in Angola leaving the remaining 49 pct open for the Angolan Government.  Secil operates in Angola via its unit TechnoSecil. TechnoSecil 2004 sales rose 72 per cent year-on-year to a total 74,000t of cement. In terms of value, TechnoSecil’s 2004 sales totalled Euro 8.3m, up 51 per cent year-on-year