U.S.$15 Million Investment Deal Signed towards FoodAgro Development

Posted on : Friday , 15th January 2016

A USD 15.1 million investment contract was signed Wednesday in Luanda between the Technical Unit for Private Investment (UTIP) and the firm Novagrolider- Exploração, Agro-pecuária Lda.

The deal is meant for agro-industrial and agro-farming production of fruits and vegetables.

The contract was signed by UTIP director, Ernesto Manuel Norberto Garcia, and Novagrolider group manager, João Macedo.

According to the manager, the above mentioned amount will be used in the processing of fruit and vegetable, flower products and production of canned food in Quibala municipality, central Kwanza Sul province.

He added that the project was designed for construction of infrastructure, purchase of machines and equipment required for the undertaking.

According to the official, with the project, the group is also seeking to develop the dairy production network, meats and flower products for the local market and exports, thus reducing import.

The project is expected to offer 1,200 new direct jobs, it was said.

Source : allafrica.com

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