Luanda — A vegetable and palm oils factory will be opened in Luanda in October this year, with an expected creation of 400 jobs, in a private initiative of the Naval business group.

The announcement was made on Wednesday in the Angolan capital by the company's financial director, Eduardo Barbosa, during a visit by the provincial governor of Luanda, Manuel Homem, to the factory's construction site.

The factory will also produce butter and it is budgeted at more than US$90 million.

According to the official, the construction phase of the industrial unit granted employment of more than 300 people.

For his part, the provincial governor of Luanda, Manuel Homem, considered the installation of this factory to be extremely important, as it is a project that will contribute to the employability of more young people and the process of economic diversification of the country.

He added that the initiative of the Naval Group strengths investment in the country's industrial sector, one of the focuses of the Angolan Government.

As for the relocation of the population, the governor said that more than 50 families have already been transferred from the industrial zone to a safe place, with another 15 families still living in the vicinity of the factory still to be relocated.

Operating in Angola since 2007, the Naval Group operates in the wholesale trade (sale of food products, construction materials, products for industry and agriculture) sectors of the manufacturing industry, and it has more than 2,100 workers. AB/QCB/DOJ