On the 23rd of June 2016, the President of the Republic of Angola, approved the investment project named Rabbi Steel, Lda, which aims to build an industrial unit dedicated to metallurgy and electroplating located in Barra do Dande, Bengo province. The global investment amount is evaluated at 78,000,000.00 USD.
The investment aims towards the production of steel bars, iron bars, angles and various galvanized products.
The implementation of this project will contribute to the promotion of industrial activity in Bengo province and the creation of a total of 700 direct jobs, of which 600 are for Angolan workers and 100 for expatriates.
The project is aligned with the National Development Plan of 2013-2017 bycreating a sustainable environment and regional balance in the industrial development of the country, to ensure the achievement of the following objectives:
- Promotion of domestic production;
- Promotion of job creation and labor training skills for the local workforce;
- Provide effective supply of the internal market;
- Reduce imports.
UTIP as the state representative, which oversaw the signature of this investment contract will provide the necessary institutional support, through support mechanisms and monitoring in conjunction with other state bodies involved in the field of private investment.
The Technical Unit for Private Investment on the 23rd of June 2016.