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Angolan company signs investment agreement worth US$5 billion

Angolan company Organizações Ribeirinho has become the largest investor in Angola to sign a contract with the National Agency for Private Investment (ANIP) for an investment of US$5 billion, Angolan news agency Angop reported.

The investment contract signed Wednesday with ANIP is for construction of 60,000 social housing units in eight provinces of Angola over the next 15 years, with funding from Canada and contracts handed over to Angolan, American and Italian companies.

Director-General Hernâni Ribeirinho said on the sidelines of the signing of the investment contract with ANIP that the company would build social housing for sale in the provinces of Luanda, Lunda Sul, Kwanza Sul, Huambo, Huila, Malanje, Moxico and Zaire.

On Wednesday, the National Agency for Private Investment signed 13 private investment contracts in the amount of US$5.25 billion, the second-largest of which, for US$9.4 million, was signed with Hua Dragão – Comércio Geral, for construction of a logistics distribution centre. (macauhub/AO)

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