According to a presidential order consulted by Lusa, the financing of this industrial project will be done under a credit line of 1 billion euros that results from an agreement between Deutsche Bank, Sociedade Anónima Espanhola and the Development Bank of Angola.
The credit line is intended to finance private projects in the industrial, agricultural, farming and fishing sectors, among which is the sugar production plant promoted by Sociedade Carrinho Empreendimentos S.A.
Having the need to grant a State Guarantee to the financing operations for the industrial projects, the President approves, through this dispatch, the granting of a Sovereign Guarantee to this financing agreement, in the global amount of 57,450,000 euros, for the coverage of the import contract of goods and equipment of the Sugar Production Factory Project, in the province of Benguela, in the southern coast of the country, reads the dispatch.
"For the issue of this Sovereign Guarantee, the Commercial Company Carrinho Empreendimentos S.A., as the beneficiary of the same, must pay a guarantee fee corresponding to 1.87 percent of the value of the financing, paid with the entry into force of the Individual Financing Agreement, under the terms of Article 44, of Law No. 1/14, of February 6, the Law on the Legal Regime for the Issue and Management of Direct and Indirect Public Debt," the presidential order reads.
The beneficiary company must provide a counter-guarantee as beneficiary of the same, in the form of a pledge of bank accounts in favor of the Angolan State, the President said in the order, noting that the Development Bank of Angola must report monthly to the Ministry of Finance on the degree of execution of the financing and implementation of the project.
Angop reported earlier this month that the production of sugar, flour and soy oil, within 24 months, is among the objectives and targets of the Carrinho Industrial Complex.
According to its spokesman, Lisandro Filipe, the company has benefited for this purpose from a financial support from the Government, through the Development Bank of Angola (BDA), of around 113 million euros, corresponding to 32.84 percent of the total cost, for all the component related to the import of equipment.
