Of this investment, half was guaranteed with equity, with the remaining 50 percent being financed by Banco BIC.
This hot-dip galvanizing unit is unique in Angola. Galvanizing is one of the most efficient processes against corrosion and helps to minimize the high costs that this entails. It can be described as the process in which a piece of iron or steel is coated with zinc, a more noble metal that prevents corrosion.
"The autonomy in production will allow us to increase our response capacity in the construction of telecommunications towers and the transport of high, medium and low voltage energy", says Victor Lima, CEO of the Group, in a statement sent to VerAngola.
From an economic and social point of view, Anglobal states that this investment represents a commitment to diversification, guaranteeing a national investment in local production units.
The company says it believes in this industry and in local capacity, and with this it contributes to reducing the need for importing this type of material, with a direct impact on the needs for payments in foreign currency.
Galvostahl will initially employ 116 employees, most of whom have transferred from the previous management. The company currently employs more than 600 people and already has plans for future growth that aims to actively contribute to the socio-economic development of the different parts of Africa where it operates.
The inauguration was celebrated alongside employees, customers, suppliers and Government authorities. The event included an opening ceremony and a visit to the factory.
"The opening of the new factory was possible thanks to our customers and partners, who provided us with new business and who demand this growth from us, the Government authorities that supported us, our suppliers and, of course, our proud employees", says Victor Lime. "I am honored to join our team and guests to celebrate the opening of this new world-class facility."
Since it was founded in 2003, Anglobal has had solid growth in Angola, but also in other geographies, namely Cape Verde and Portugal.
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