Africa Angola Economy Government Industry and Commerce Infrastructure M&A

Angolan government plans to raise US$80M by selling seven companies

The Angolan government expects to make at least US$80 million dollars by privatising the first seven companies of a set of 52 industrial units installed in the Luanda-Bengo Special Economic Zone, according to officials.

Gilberto Luther, manager of the State Assets and Assets Management Institute (IGAPE), announced that the public tender for the sale of these units, officially opened on Thursday, ends on 31 March.

Luther, who made a presentation to state managers and businesspeople, stressed that IGAPE had already received proposals from national and foreign investors interested in acquiring some of those companies.

The sale price of the industrial units, according to Luther, ranges from US$3 million to US$18 million, but the value of each one must be analysed specifically, according to the Angop news agency.

The Angolan state is currently divesting Univitro, Juntex, Carton, Absor, Indugited, Coberlen and Saciango, only one of which is in operation, with the other companies at a standstill since the creation of the EEZ in October 2009, although they have equipment.

Univitro produces glass and at present has 17 regular workers, Juntex is focused on the construction and distribution of concrete structures, Cardton makes cardboard, Absor makes diapers and wipes, Indugited makes hygiene products, Coberlen manufactures blankets and Saciango produces bags for the cement industry and others.

The chairman of the IGAPE Board of Directors, Walter Barros, said that this year, the other industrial units installed in the EEZ will be submitted to public tender.

The EEZ is located in an area of 8,300 hectares with water, electricity and road infrastructure, but its installed electrical capacity is expected to increase as the number of units in the area increases.

Source: macauhub

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