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Angolans-Germans joint invest in industrial hub in Angola

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Monday, 06 July 2015

Angolans-Germans joint invest in industrial hub in Angola

The Silvestre Tulumba e Investimentos group (STI) is expected to invest around US$350 million ] in the construction of the largest industrial hub in southern Angola, in the city of Lubango in southern Huila province. Silvestre Tulumba Kapose,, the President of the STI group, said the funding had been secured through a partnership with German investors and the project included plans to build a brewery at the hub. This is expected to lead to the creation of at least 2,000 jobs over the next four years. Headquartered in Lubango and with a branch in Luanda, the STI group was founded 10 years ago and works in the real estate, hospitality, auto trade, food distribution and accessories sectors. the group has also recently launched a large agricultural project in the Uaba commune valued at US$120 million in an area of 13,000 hectares.

Source: macauhub.com