Chinese group CITIC analyses new investments in Angola

The construction of a steelworks in Angola’s Huila province and the production of agricultural seeds will be CITIC Construction’s next investments in Angola said the vice president and general manager of the company’s Africa division.

Hu Ping also told the Angop news agency, on the sidelines of a visit organised by the Angola-China Chamber of Commerce to projects, namely real estate, built by the company in Angola, that the most advanced project is for the production of agricultural seeds.

The vice president of CITIC Construction said economic feasibility studies are underway for the construction of a steel factory and, at the same time, contacts are being made with the Ministry of Geology and Mines, which is responsible for the sector.

The company, which has already invested in an aluminum parts production plant in the Viana Industrial Complex, on the outskirts of Luanda, was selected by the Angolan government to build the Kilamba housing project, having already completed the first phase and is currently building infrastructure for the second stage.

The visit organised by the Angola-China Chamber of Commerce included the visit to the housing project “Zango 8000 Red” housing project, located in the municipality of Viana, with half of the 8,000 houses expected to be delivered to the Angolan government next July.

This project has a budget of US$1.2 billion, occupies an area of ​​416 hectares. The area already built currently occupies 100 hectares, with buildings up to three floors and 2- 3- and 4-bedroom houses.

Source: Macauhub

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