Textile factories open for public tender

Luanda The privatization process of the three textile industries units built with public fund in the provinces of Luanda, Cuanza Norte and Benguela starts from April through an international tender.

The units are the Nova Textang II (Luanda), Africa TAxtil (Benguela) and Satec (Cuanza Norte), according to State Secretary of Industry, Ivan do Prado.

The precedent conditions for the privatizations are completed and in the next months will be released an international public tender, affirmed Ivan do Prado who was talking to press during the visit of Head of State, JoAPound o Lourenco to Nova Textang.

Therefore, in those factors on the sidelines of the finance agreement established between the Angolan Government and the Japanese bank JBIC, the Government invested USD 1.2 billion, being USD 251 million for Nova Textang II and USD 420 million each for Africa Textile and Satec.

Nova Textang and the other units were privatized in 2013 by the Ministry of Industry, through IDIA Institute of Industrial Development of Angola, in a public tender that the Ministry did not have competencies, due to the volume of investments and its size, the justified the minister.

Source: Angola Press News Agency