Chinese company Sinohydro Construction Angola will invest over $100 million (€84.8 million) in the development and implementation of infrastructure under Angola’s National Grain Production Promotion Plan (Planagrão), launched by the Angolan government in 2022 to boost rice, soybean, corn, and wheat production in the country’s eastern region.

To this end, a memorandum of understanding (MoU) was signed recently in Luanda between Angola’s Minister of Agriculture and Forestry, Isaac dos Anjos, and Li Xunfeng, a representative of Sinohydro. The agreement grants Sinohydro and its partners land-use rights for a minimum of 25 years, exempt from any land-related direct taxes or fees.

In a statement to the press, Li Xufeng said the company will study and plan to expand operations in Angola’s eastern provinces, emphasizing Sinohydro’s commitment to enhancing food security and reducing poverty in the country.

(Source: Jornal Folha 8 - Angola, on July 24)