Ver Angola


Five-star hotel, plastic factory and civil construction are worth foreign investment of 240 million dollars

AIPEX (Private Investment and Export Promotion Agency) signed this Thursday three private investment contracts whose value amounts to 240 million dollars. The agreements will be applied to the construction of a five-star hotel, a plastic utensils factory and projects linked to civil construction and public works.


According to Angop, it is known that the hotel unit will have a total of 584 rooms, an aparthotel area, restaurant and other facilities, worth a large part of the total investment signed this Thursday. HG Group investors - originally from Dubai - will contribute around US$220 million to complete the project, which will be implemented in the Forest area of Luanda Island.

Construction of the project - called 'Cidade Resort' - is expected to take around a year, with work expected to begin in the first month of 2024. It is estimated that 570 jobs (98 percent national) will be created by the project.

Philip Pedashenko, director of HG Group, said that this is a project that investors hope will become the "postcard" of the Island of Luanda, stating that the award of the work is already in the process.

For AIPEX CEO, Lello Francisco, the construction of the complex will requalify the perimeter and promote hotel infrastructure in the country.

The plastic utensils factory will be implemented in the Special Economic Zone, with an investment of 10 million dollars by the Limited Commercial Industrial Development Company (EDIC). It is planned to create 160 jobs.

The company's general director also said that the factory hopes to bring new technologies in the field of plastic processing to the country, with new solutions and products. Household utensils, plastic technological equipment for industry and small fishing and tourism vessels will be produced.

As for the last agreement, it is a contract for civil construction and public works - also worth 10 million dollars - which will focus on the construction of schools, bridges, hydraulic crossings and roads in some regions of the country to be identified. The initiative arrives from Egypt, by Metal Engy - Construction and Public Works.

According to Francisco Lello, the company seeks to establish itself in Angola and provide services to the State, participating in public tenders and in works under the Integrated Plan for Intervention in Municipalities (PIIM).

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