Chinese-invested industrial park in Angola initiates construction
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Update time : 2024-06-25 15:24:35
A Chinese-invested industrial park in Angola is set to significantly enhance the country's industrial capabilities and economic diversification, announced a senior official. The Huatong Aluminum Industrial Park, initiated by Hebei Huatong Wire and Cables Group and Huatong Angola Industry, involves a US$1.6 billion investment and will be developed in five phases, according to Secretary of State for Industry Carlos Rodrigues. The project, located in Barra do Dande, Bengo Province, will create 12,000 jobs.
Chinese Ambassador to Angola Zhang Bin highlighted that the investment will promote economic diversification, industrialization, job creation, tax revenue generation, and technical training for locals. The park's first phase, costing US$250 million with an annual production capacity of 120,000 tons of electrolytic aluminum, is expected to be operational by late 2025. Completion of the entire project will take eight to ten years.
