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USD400mn spent on construction works of new Satec textile factory

YarnsandFibers News Bureau 2016-05-03 15:00:00 – Dondo

The new SATEC textile factory under construction in Dondo, Cambambe municipality, northern Cuanza Norte province, as part of a public-private partnership around USD400 million have been spent on the construction works.

The chairman of the board of directors of the Angolan business group "Mainhia Yeto", in charge of the work, Matos Cardoso released the information on Friday that the aforementioned amount was used in the construction of infrastructure and purchase of equipment for the project, expected to start next July.

The new textile plants being built under a Japanese private investment will be equipped with latest technology.

He further added that this step represents indirect revenue as the result of the investment made. At this moment, the factory is fully completed. Hundreds of young people are in training process.

The setting up of the new textile and apparel units is also expected to stimulate the reactivation of the Dondo industrial park, which was once considered one of the top four industrial hubs of the country.

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