Angop - Agência de Notícias Angola Press

USD 25 million for sugar factory project needed

Wed, 05 Dec 2018 12:52 - Economy

Lobito - At least USD 25 million is the amount needed for the Agro-Industrial Vista Alegre Firm of Alves & Irmão Group start assembling a sugar factory in Lobito, coastal Benguela province.

  • Lobito: "Grupo Alves & Irmãos" headquarters

The Farm's chairperson, Victor Manuel Alves, told Angop on Wednesday that the project has already been submitted to the Angolan Development Bank (BDA) for funding.

According to him, the intention is to create, on a phased basis, nearly two thousand direct and indirect jobs.

The project covers five thousand hectares of sugar cane in the commune of Cayave, municipality of Caimbambo, Benguela province.

Victor Manuel Alves did not reveal the planned production capacity.

But he clarified that the investments will be earmarked for acquisition of machines such as automatic planters from South Africa, Brazil and China to ensure income.