[2020-08-05] Sino-Angolan farming venture borrows US$3.38 mln to expand

Source: Macauhub

A Sino-Angolan farming venture, Luckyman Angola Desenvolvimento Lda, has availed of an Angolan government lending programme, borrowing 1.95 billion kwanzas (about US$3.38 million) to expand, Angop reports.

The Angolan state-run news agency says Angolan bank Banco BIC disbursed the money in the first quarter of this year.

The report says Luckyman is using the money to increase to 7,000 hectares from 4,000 hectares the area of the northern Angolan municipality of Cahombo that it has planted with cereals and fruit-producing plants for the new growing season.

The area planted should produce 28,000 tonnes of maize, 4,500 tonnes of rice and thousands of tonnes of guavas, bananas, pitayas, tangerines and oranges, the report quotes Luckyman Production Director Zhang Hui Pu as forecasting.

Luckyman has imported equipment for two facilities for making fruit juice, and intends to set up a facility for making maize flour, Angop quotes Mr Zhang as saying.