[2019-05-24] Angola’s Biocom wants additional measures to protect industry

Source: Macauhub

Angolan bioenergy company Companhia Bioenergia de Angola (Biocom) wants the country’s government to take additional measures to protect domestic industry by introducing a quota and fee system for imported sugar, the company’s commercial director said.

Fernando Koch also told state newspaper Jornal de Angola that the company’s management believes it necessary to protect those who invest and produce directly in Angola, in the case of Biocom, which produces sugar, ethanol and electricity from biomass.

“Based on production already registered, Biocom estimates that it has already secured a saving of US$70 million in Angola’s foreign exchange reserves since sugarcane was first harvested in 2014,” said the commercial director.

Biocom currently has a planted area of 24,000 hectares of sugar cane, in the last agricultural campaign producing 73,000 tonnes of sugarcane and 17,000 cubic metres of ethanol.

Biocom, which is located in the Cacuso district, 75 kilometres from Malanje, is one of the largest Angolan agro-industrial projects, led by Brazilian group Odebrecht, which owns 40% of the capital of the company. The remaining 60% of the capital is shared by Angolan private-equity group Cochan, with 40% and Angolan state oil company Sonangol, with 20%.