Angola: Japanese companies negotiate US$600 million investment in southern Angola

The Japanese group Toyota Tsusho intends to invest 525 million euros in a project approved by the Angolan government for the development of Namibe Bay in southern Angola, according to a presidential dispatch that Lusa has had access to .

Luanda – The Japanese group Toyota Tsusho intends to invest 525 million euros in a project approved by the Angolan government for the development of Namibe Bay in southern Angola, according to a presidential dispatch that Lusa has had access to.

The information comes from an order signed by the Angolan President, João Lourenço, published on Monday and to which Lusa had access, authorizing the project and its inclusion for financing in the credit line opened for Angola by the Bank of Japan to International Cooperation (JBIC – Japan Bank for International Cooperation).

The document, which does not elaborate further, authorizes the Angolan minister of Transport to conclude the contract for the Integrated Namibe Bay project with the Toyota Tsusho Corporation and TOA Corporation, totaling US $ 600 million (525 million of euros).

“If there is a need to guarantee the continuity and implementation of the Government’s program regarding the diversification of sources of financing for the execution of projects included in the Public Investment Program and other programs and projects of national interest included in the National Development Plan 2018 – 2022 “, explains the order.

Founded in 1887, the Japanese group Toyota Tsusho has more than 12,000 employees and is present in various business areas, according to information provided by the company itself, in 39 countries, including 34 in Africa.

During the Portuguese colonial period, the province of Namibe became the main fishing port in Angola – based on the bays of Moçâmedes, the capital, and Tômbwa – and is largely occupied by the desert, considered the ancient world.

The Namib Desert Named one of the seven wonders of Angola, it is divided into a zone of dunes and mobile sands, with about 200,000 hectares, without water and any kind of conditions for cattle or agriculture.

In the surrounding area, which occupies one-third of the entire province of Namibe, despite dryness and aridity, they have areas of agriculture and pastoralism, activities carried out by the local ancestral tribes.

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