Chinese-funded aluminum industrial park will boost Angola's economic diversification: official

LUANDA, June 23 (Xinhua) -- A Chinese-invested industrial park in Angola is expected to create a comprehensive industry chain covering alumina preparation, aluminum electrolysis and aluminum product manufacturing, significantly boosting the national industry and aiding economic diversification, a senior official said Saturday.

Huatong Aluminum Industrial Park project, promoted by a consortium of Hebei Huatong Wire and Cables Group and Huatong Angola Industry, will be executed in five phases, with an investment of 1.6 billion U.S. dollars, said Secretary of State for Industry Carlos Rodrigues, at the groundbreaking ceremony in Barra do Dande in the country's northeastern province of Bengo.

"This significant investment undoubtedly marks another milestone in the economic cooperation agenda between Angola and China," he said, adding that the project is expected to generate 12,000 jobs.

During the ceremony, Chinese Ambassador to Angola Zhang Bin said such investments will advance Angola's economic diversification and industrialization, create more jobs and tax revenue, and help train local technical talent.

The industrial park will be completed in five phases over eight to 10 years. The first phase, with an investment of 250 million dollars and an annual production capacity of 120,000 tons of electrolytic aluminum, is expected to be operational by the second half of 2025.