An Angolan businessman has announced the investment of US$58 million in setting up a motor vehicle factory in the Angolan province of Kwanza Sul, with the help of Chinese partners, Novo Jornal reports.
The factory will create 1,000 jobs, and make opportunities for Angolan engineers and engineering students to do internships in China and avail of scholarships to study there, the Angolan newspaper quotes Grupo BMP Chief Executive Bruno Miguel Pegado as saying.
Separately, Angop reports that the money for the factory will come from the African Export-Import Bank.
The Angolan state-run news agency quotes Mr Pegado as saying the Pegado Motors marque will belong to a company owned 100 percent by Angolans.
The report does not identify his Chinese partners.
Mr Pegado’s partners will take a group of Angolan motor mechanics to China for three months of training, Angop quotes Mr Pegado as saying.
