China has funded a car plant in Angola. Angola is planning to produce cars from next month onwards after this funded venture. The technology will be that from Japan’s Nissan Motor Co. Ltd. This was announced by the Dy. GM of the China International Fund.
Incidentally CSV Automovel – Angola will be the first car plant in the country. This has given rise to many job opportunities. It has been a $30 million investment. With this the company will be able to produce pick up vans, SUVs, small and compact cars and buses. According to Kelvin Kwan, thse will be produced in the factory that is located on the outskirts of Luanda.
They are planning to aim at the initial out of 10,000 vehicles. But this will be increased to 30,000 in the near future or 3 years according to the demand.
According to Kwan, “We have done our market research and expect the plant to be producing cars at full capacity by 2012.” He also added that the engines of the vehicles will be from Nissan.
Angola had been a victim of 27 year old civil war that ended in 2002. Now the country wants to enhance its economy and the industrial sector so as to create jobs and income for its people. The county’s population is 16.5 million. It also wants to diversify from its traditional oil and diamond reliant economy.
Surprisingly, this South African nation equals Nigeria for being Africa’s biggest oil producer. Also it is world’s top most diamond exporter.
In Angola most of the cars used for domestic purpose were either imported from Asia or the United States by the sea route. The land route taken was via Namibia on the southern border of Angola. But now this will be reduced since there will be an automatic increase in the demand for local products which will be cheap as compared to the imported cars.
Apart from this China has also given $5 billion grants to Angola to help in its oil-backed loans. This has helped the country to build its infrastructure.
Source : Suppliers Africa
