Luanda – Around 983.6 million US dollars (1 USD is worth Kz 852) are available to be invested in cotton production in Angola, in an initiative by the Chinese multinational company Y.A.N International.
The fact was expressed this week, in Luanda, by the delegation of this multinational, which was received in audience by the minister of Agriculture and Forests, António Francisco de Assis, according to a press release to which ANGOP had access yesterday, Thursday May 31.
According to the document, the aforementioned investment is projected for the province of Malanje, in an area estimated at 100 thousand hectares, in the 1st phase, with a planting space of 66k hectares of cotton.
In addition to cotton, the project also includes the production of wheat and corn, in an area of 34k hectares.
In the experimental phase, which includes 5000 hectares of cotton and two thousand for the cultivation of wheat and corn, the project expects to create ten thousand new jobs.
To reach the investment levels proposed, the Chinese company will rely on a business model that is based on a large-scale, mechanized and standardized production system, with cutting-edge “very high-performance” technology, combined with research, highlights the note.
During the meeting between the minister of Agriculture and Forestry and representatives of the executive management of Y.A.N International, the challenge was also given to investors to look into rice production and work with peasant families in the location where the investment will be made.
According to the plan, a multisectoral Angolan team was created, led by the national director for farming, Manuel Dias, and includes representatives from the Agricultural Research Institute and the National Seed Service, including technicians from the Chinese delegation, who will carry out the prospecting work in the province of Malanje.
In recent years, China has been the country with the largest cotton growing area in the world, in addition to being the largest exporter of textiles worldwide, requiring around 10 million tons of cotton fibers every year.
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