Luanda: The Chinese construction and engineering company Sinohydro Corporation Limited is set to invest 100 million US dollars to boost corn and soybean production in Angola's eastern provinces of Lunda Sul, Moxico, Cuando Cubango, and Cunene. This initiative was formalized through an agreement signed by Minister of Agriculture and Forestry Isaac dos Anjos and Li Xunfeng, the head of Sinohydro, which outlines the development of over 4,000 hectares in these provinces. According to Angola Press News Agency, the agreement is designed to accelerate local production and competitiveness, enhance grain output, and generate income. It also aims to establish a cooperative relationship between Angola and Sinohydro for planning, developing, and implementing infrastructure through concrete actions. Minister Isaac dos Anjos emphasized that this agreement is expected to significantly boost domestic production for local consumption and create a surplus for export. He highlighted that the memorandum is part of the National Plan to Promote Grain Production (Planagro) and contributes to self-sufficiency in domestic production and the export of surplus. Li Xunfeng, director of Sinohydro, stated that significant investment in the agricultural sector and a focus on public-private partnerships could reduce grain imports to Angola. Sinohydro, which has been operating in Angola since 2005, is primarily known for its work in the construction sector, including the construction of the Lauca Dam located on the Kwanza River. In addition to this agreement, the Ministry of Agriculture and Forestry has signed a partnership agreement with Citic Construction, another Chinese company, for the agricultural development of eight thousand hectares in the provinces of Cuanza-Norte and Malanje. This project is estimated to cost 250 million US dollars.
