Turkey will invest in the construction of a fertilizer plant in Angola, the CEO of Turkey’s Summa Group said Tuesday.
Rya Bayegan has been in Angola since last Friday accompanied by Turkish investors. He said that with the construction of the factors industry Angola will increase its production of fertilizers and thus to maximize its food production.
Ryan Bayegan said that 50% of the fertilizers used in the agriculture for the production of food are imported and one fertilizer factory might help a lot the sector.
The businessman announced plans to invest in the construction of a hotel, with among other advantages, with capacity to have a conference room to facilitate the new foreign investments for Angola.
Speaking at the end of a meeting with the CEO of the Agency for Private Investment and Export Promotion (AIPEX) António Henriques, the Turkish businessman said that Angola has a great potential for investment.
In turn, the AIPEX Chairman of the Board of Directors expressed satisfaction and said that the first step made by the Turkish businessmen was crucial because it clearly shows that the country still have a lot to do.
The arrival of the Turkish businessmen is the result of the recent visit of the Head of State João Lourenço to the Europe-Asian state from 27 to 29 July, which is the first of the kind since he took office in September 2017.
In 2020, Turkey spent USD 22.55 million in various sectors, with the African countries interested in the experience and potential of the Turkish in the textile industry, agri-food and automobile as well as in the production of household appliances and assembly of tractors and motorcycles.