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New owner of Pungo Andongo farm announces initial investment of 15 million dollars

The new owner of the Pungo-a-Ndongo farm, a 25 million dollars venture, will initially invest $ 15 million and produce grain "on a large scale".

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The representative of the company PRUMO-Empreendimentos e Materiais de Construção, António Vide, who was awarded the infrastructure, in the scope of the privatization of State assets, sees the investment with "courage, belief in the country and in Angolans".

"We are concerned with achieving levels of production that allow the economic and financial viability of the farm, but we have a significant concern in the social and environmental component," he said in statements to the press.

The Pungo Andongo farm, located in the province of Malanje, was one of five whose award contracts, in favor of private entrepreneurs, were signed this Thursday with the Institute of Management of Assets and State Participations (IGAPE).

With an area of ​​23,230 hectares and with infrastructure to be rehabilitated, the project coordinator plans to produce this year about 2000 tons of soy and 4000 tons of corn.

"Our program reaches the passage of 15,000 tons of soybeans and 30,000 tons of corn in five or six years", he stressed, guaranteeing to "dynamize" the region, the province and support the development of the economy.

The official said that the farm cost 25 million dollars and guarantees, in a first phase, a high investment, 15 million dollars, equivalent in kwanzas, mainly in the acquisition and assembly of equipment.

"This is the initial investment and in the next three or four years and then the investment will grow from the moment when more production areas will be created, namely to work with corn and soybeans", he explained.

The farm "will have the capacity to store and dry the corn and we have equipment to produce cornmeal and animal feed, we do not plan to sell corn or soybeans directly, but we do plan to sell the final product", he concluded.

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