Ver Angola

Energy

South Koreans ready to invest two billion in power plant in Benguela

The Africa-Korea Economic Development Association (AKEDA) will finance the construction of a power plant in Benguela province. Infrastructure costs amounted to two billion dollars.

:

The information was advanced by the association's general secretary, Chung-Siwod, on the sidelines of the signing of an investment memorandum between AKEDA and AIPEX (Agency for Private Investment and Export Promotion).

According to the official, the amount of two billion dollars for the financing of a power plant in the province of Benguela is part of a global amount that the association plans to mobilize.

It will then be five billion dollars that the Africa-Korea Economic Development Association will be able to invest in Angola, with Chung-Siwod admitting that there is particular interest from investors in the area of ​​energy, oil refining, agro-exploration and small and medium-sized companies.

“AKEDA is represented in 39 African countries. We are particularly interested in working with the Angolan authorities because Angola is located in a strategic region of Africa and has an economy with a promising future ”, said the official, quoted by Angop.

With the signing of the memorandum, the parties agreed to take the necessary measures in order to facilitate trade links between Angola and South Korea, reporting on potential projects, national investment laws, and providing information on taxes, customs and concessions.