CITIC Construction poised to invest in Angola’s steel, farming sectors

State-owned enterprise CITIC Construction, from China, is planning to invest in Angola’s steel and agriculture industries, Angop reports.

Vice President of CITIC Construction and General Manager of the African Division, Hu Ping, told the news agency the organisation was interested in building a steel plant in Huíla province and in producing seeds.

CITIC has previously invested in a factory on the outskirts of Luanda that manufactures aluminium component parts and has completed the first phase of the US$3.5-billion Kilamba social housing project.

The report says work has commenced on Kilamba’s second phase, which will cost about US$600 million.