Africa-Press – Angola. The Private Investment and Export Promotion Agency (Aipex) signed this Thursday, in Luanda, three investment agreements worth USD 240 million, the equivalent of 198.05 billion kwanzas.
The signed agreements will be applied to the construction of a five-star hotel, a plastic utensils factory and civil construction and public works projects.
The five-star hotel unit will have 584 rooms, aparthotel, restaurants and other spaces, in an investment of USD 220 million by HD Group – a Dubai company, to be invested in the interior of the Luanda Island Forest.
The project called “Cidade Risort” will last one year, and work on the building will begin in January 2024, a project that is expected to create 570 jobs, of which 98% will be nationals.
The second project, the factory for industrial plastic utensils and accessories, will be implemented in the Special Economic Zone.
With an investment of USD 10 million, the amount will be invested by the Limited Commercial Industrial Development Company (EDIC).
The third and final agreement is a contract for civil construction and public works, worth USD 10 million, for the construction of schools, bridges, hydraulic crossings and roads in some regions of the country to be identified.
The initiative for this project comes from the Egyptian company Metal Engy – Civil Construction and Public Works.
Promotion of tourism and more jobs
On the occasion, the president of the Board of Directors of Aipex, Lello Francisco, considered that the construction of the hotel complex inside the Luanda Island Forest will requalify the perimeter and promote the country’s tourist and hotel infrastructure.
Regarding the plastics factory, he stated that this action will expand Angola’s industrial park and contribute to reducing Angola’s unemployment rate, by creating 160 jobs.
Regarding the contract with the Egyptian civil construction company, Lello Francisco said that it intends to establish itself in Angola to be part of the range of companies that provide services to the State in the construction of public works, through public tenders and participation in works under the Integrated Municipal Intervention Plan (PIIM).
On the same occasion, the director of HG-Group, promoter of “Cidade Risort”, Philip Pedashenko, said that the process to award the work is already underway, which is expected to become the postcard of Luanda Island.
In turn, the general director of EDIC, Ahmad El Kara, said that the factory will bring to Angola new technologies in the field of plastic processing with new solutions and products.
According to the person responsible, the industrial unit will produce, in addition to household utensils, plastic technological equipment for industry and small fishing and tourism vessels.
The administrator of the company Metal Engy – Civil Construction and Public Works, Maria Tito, said that the company arrived in the country with an initial fund of USD 10 million for works in the country.
Angolan Private Investment and Export Promotion Agency (Aipex) dedicated to promoting exports, attracting private investment, as well as providing institutional support and monitoring the execution of investment and internationalization projects for Angolan companies.
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