Africa-Press – Angola. The State Asset and Share Management Institute (IGAPE) terminated, this Monday, the management contract of the Comandante Bula textile factory (ex-Satec), in Dondo, municipality of Cambambe, with the company Baobab Cotton Company (Private) Limited.
The document for the formal termination of the contract was signed by the CEO of IGAPE, Álvaro Fernão, and Nuno Andrade, administrator of Baobab Cotton Company.
Speaking to the press after the formal signing of the termination of the contract, the chairman of the IGAPE Board of Directors, Álvaro Fernão, clarified that the factory returns to the State after being privatized in 2022.
Álvaro Fernão explained that the end of the partnership is due to contractual clauses, but precisely with the operationalization, production and quantity of what the institution has as output from the factory.
“We want to optimize it, these are State units that were privatized with a view to having more production”, he reinforced, stating that the State intends to guarantee this goal in the near future.
According to the CEO of IGAPE, there is still no new partner, but there are already several letters of intent that will be analyzed to choose an operator to reactivate the unit.
Regarding the criteria for entering into a new contract, which, according to the PCA, are legal, the technical and financial capacity of the operator to guarantee the operation of the factory is included.
As for the 94 workers at the factory, he said they will remain and will have their salaries guaranteed, until a partnership with a new entity is established.
Before the formal signing of the termination of the contract, the CEO and the delegation that accompanied him checked the condition and operation of the machines, which he guaranteed were in good condition, but assured that tests would be carried out later.
The factory has around 300 cotton treatment machines, fabric and clothing manufacturing and capacity for 1500 jobs in three shifts.
Comandante Bula has two production lines and occupies an area of 88 square meters. It offers spinning, knitting, dyeing, finishing and clothing manufacturing services, as well as a denim fabric manufacturing area.
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