Africa-Press – Angola. The Chinese construction and engineering company Sinohydro Corporation Limited will invest 100 million US dollars to increase corn and soybean production in Angola’s eastern provinces of Lunda Sul, Moxico, Cuando Cubango, and Cunene.
Signed Thursday by Minister of Agriculture and Forestry Isaac dos Anjos and Li Xunfeng, the head of the investing company, the agreement defines the exploration of more than 4,000 hectares in the aforementioned provinces.
The agreement aims to accelerate local production and competitiveness, increase grain production and income generation, and establish a cooperative relationship between the parties for planning, developing, and implementing infrastructure through concrete actions.
The minister of agriculture said the agreement is expected to boost domestic production for domestic consumption and create a surplus for export. He noted that the memorandum is part of the National Plan to Promote Grain Production (Planagrão) and that initiatives of this kind contribute to self-sufficiency in domestic production and export of surplus.
Sinohydro’s director Li Xunfeng on his turn said grain imports to Angola could be reduced through significant investment in the agricultural sector and a greater focus on public-private partnerships.
Sinohydro has operated in Angola since 2005, primarily in the construction sector. Notably, the construction of the Lauca Dam located Kwanza river in northern Malanje and central Cuanza Sul provinces.
The Ministry of Agriculture and Forestry also signed a partnership agreement with Citic Construction, a Chinese company, for the agricultural development of eight thousand hectares in the provinces of Cuanza-Norte and Malanje. The project is estimated to cost 250 million US dollars.
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