A major US $350m industrial hub to be constructed in Angola

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Angola industry is set to benefit from an industrial hub worth US $350mn to be constructed in the country making it the largest in the country’s southern part, in Lubango. This was noted by the CEO of Silvestre Tulumba e Investmentos (STI) who are the owners of the project.

The CEO, Silvestre Tulumba Kapose noted that finances for the project had been obtained through a partnership that the company had with Germany. This money would be invested in the construction of a soft drinks plant, a brewery, dairy product factory, miller and a slaughter house which will all be in the industrial hub.

Tulumba also noted that the project would be complete in the coming four years and would help create more that 2000 jobs.

Tulumba further noted that currently the project is facing progress problems due to problems to do with foreign exchange for the purchase of the equipment required but this will be settled. He hoped that the government would give them support to help push the project forward.

STI Group was established 10 years ago in Lubango having a branch in Luanda. The company operates in the industries of Real estate, hotels, care trade, spare parts and food distribution.

The company recently launched another mega-project in Uaba, which is estimated to cost US $120m with an area of 13 000acres.