The much-awaited Huatong Aluminium Industrial Park project, initiated by the Angolan authorities, finally started on Saturday, June 22nd. The Angolan authorities gathered in Barra do Dande to kick off the construction of a $1.6 billion aluminium industrial park.
The Huatong Aluminium Industrial Park project
This event marks a significant milestone and is expected to boost the Angola-China economic cooperation. The project is anticipated to create approximately 12,000 jobs and generate US$3 billion in revenue. The project is planned to be completed in five phases over 8 to 10 years. According to a statement from the provincial government of Bengo, once the industrial chain is fully established, the park will produce a range of aluminium products, including ingots, alloy ingots, tram poles, rods, sheets, and rolls.
Under the banner of the Huatong Aluminium Industrial Park project, Huatong Angola Industry, a consortium formed by two subsidiaries of Hebei Huatong Wires & Cables Group, is leading the charge. Huatong Chairman Zhang Wendong has reaffirmed the consortium's dedication to nurturing a lasting partnership in Angola and promoting extensive collaboration.
The company anticipates that over 80 per cent of its production will be exported, potentially generating at least US$400 million annually in foreign exchange for Angola. Chinese Ambassador to Angola, Zhang Bin, has expressed optimism that the industrial park and the government's institutional support will serve as a magnet for more Chinese companies to invest in Angola.
Phases of the project
Phase one, with an estimated investment of US$250 million, is set to commence operations next year and produce approximately 120,000 tonnes of electrolytic aluminium annually. This phase will employ around 1,200 workers, predominantly Angolan nationals, and may generate annual revenue of US$250 million.
Phase two, anticipated to be operational within four years, will require an investment of US$450 million. This phase aims to create 2,300 additional jobs and increase annual revenue to over US$500 million.
“This important and significant investment undoubtedly materialises another notable milestone in the Angola and China economic cooperation agenda,” said Carlos Manuel de Carvalho Rodrigues, Angolan secretary of state for industry.
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