Construction has started at the $1.6 billion Huatong Aluminum Industrial Park in Angola. Developed by Huatong Angola Industry – a consortium of two subsidiaries of Chinese manufacturing company Hebei Huatong Wires & Cables Group – the project will produce a range of aluminum products, including ingots, alloys, tram poles, bars, plates and coils.
The aluminum industrial park will be developed in five phases over a period of eight to ten years. The first phase – expected to begin in 2025 – will have capacity to produce 120,000 tons of electrolytic aluminum per year and will create 1,200 jobs – of which 1,000 employed will be Angolan nationals – with an annual turnover of $250 million.
According to Angola’s Secretary of State for Industry, Carlos Manuel de Carvalho Rodrigues, the park strengthens cooperation between China and Angola. “This important and significant investment undoubtably materializes another notable milestone in the Angola and China economic cooperation agenda,” he said.
Phase two is expected to start operations within four years. This second phase will be developed at a cost of $450 million, employ up to 2,300 people and will increase the project’s annual revenue generation to $500 million. Phases three to five will be implemented in the years following the completion of phase two.
The Huatong Aluminum Industrial Park is expected to generate over $3 billion in annual revenue while providing employment to over 12,000 people and will generate up to $400 million in annual foreign revenue for the country, as 80% of the products produced will be exported.
