S. Tulumba to invest $598m in Angola

Angola will benefit from a new animal feed plant and grain mill as S. Tulumba Investimentos & Participacoes plans to invest $598 million.

The facilities will be located in the Cunene province, bordering Namibia, and will take two years to build, a statement from the government reveals.

Out of the two projects, $440 million will be invested in the animal- feed facility and $158 million in the mill. The state will offer the company tax concessions up to 95% for 10 years, as President Jose Eduardo dos Santos attempts to reduce its reliance on oil by branching out to agriculture, manufacturing and mining.