China Jiangsu Intl to invest US$1.58 mln in Angola  

China Jiangsu International Economic and Technical Cooperation Group Ltd and the Angolan government have struck an agreement providing for the company to invest US$1.58 million in the construction materials supply business in Angola, Angop reports.

The Angolan news agency quotes China Jiangsu International Director-General Xu Bo as saying the agreement will strengthen his company’s position in the Angolan market for making and dealing in construction materials for use in building infrastructure.

The report says the agreement provides in particular for a large investment in Luanda, to be made within one year, which will create over 70 jobs.

China Jiangsu International which has been operating in Angola for over eight years, Angop says.