UTIP signs investment contract valued at USD 24 million.

Luanda – The Technical Unit for Private Investment (UTIP) and Medvida Ltd, signed today in Luanda an investment contract valued at 24 million dollars for the construction of a factory to produce medical supplies.

The amount will be used in the construction of industrial plants, buildings and warehouses, as well as the acquisition of machinery and administrative equipment necessary for the operation of the plant.

According to the project implementation schedule, located in the economic zone Luanda / Bengo, the start of the plant is scheduled for the second quarter of the current year (2016). Will provide 100 direct jobs, of which 82 for national workers. 

The plant will produce initially, hospital products – swabs and gauzes for ophthalmic treatment, cleaning of medical instruments, and surgical dressings. 

With this unit, according to a note that reached Angop, intended to cover about 90 percent of the country’s needs in hospital bandages and gauze, thus allowing to replace the import of this product in the order of seven million 483 000 823 dollars in the first year of implementation of the project. 

The same note states that the project meets the new private investment policy and responds to various objectives identified in the National Development Plan (NDP) 2013-2017, to ensure the achievement of objectives such as promotion of domestic production, as well as provide effective supply of this product in the domestic market. 

The Medvida, Lda, a company with capital 100 percent Angolan, has an installed capacity of eight million hospital packs per month.