Economy & Market
Portuguese group Galilei invests in Angola
Portuguese group Galilei will be joining hands with German group, Heidelberg Cement, one of the world's biggest cement companies, to penetrate the Angolan cement market. Fernando Lima, Chief Executive, Galilei, said that the Cimentos Nacionais Angola (CNA) project, in which investment is expected to total US$370 million, has already been designed and that preliminary work has begun. The new cement plant will have an initial installed capacity of 2 million tonnes of cement per year. The German group will be providing the major chunk of funding, while the remainder will be provided by both the Galilei group and their Angolan partners.