Public consultation for textile factories privatizations process

Luanda – The privatization process of the three textile industrial units, built with public funds, in the provinces of Luanda, Cuanza Norte and Benguela, will go to public consultation on the 18th of this month, in an initiative of the State Assets and Participations Management Institute (IGAPE).

In addition to the textile units, IGAPE also has on the agenda for this month, on 19th, the public consultation on the privatization of livestock farms, according to the document to which ANGOP had access last Tuesday.

The textile units that are under tender are the Nova Textang II factories (Luanda), Africa Textile (Benguela) and Satec (Cuanza Norte).

In these factories, within the scope of the financial agreement established between the Angolan Government and the Japanese bank JBIC, the Government invested USD 1.2 billion, of which USD 251 million for Nova Textang II and USD 420 million each for Africa Têxtil and Satec .

Nova Textang and the other units were privatized in 2013 by the Ministry of Industry, through IDIA – Industrial Development Institute of Angola (IDIA), in a public tender that the Ministry of Industry had no competence to do, due to the volume of investments.

Source: Angola Press News Agency