Dundo - Brazilian, Bolivian and Mexican businesspeople intend, as from the first quarter of the year 2024, to invest around US$15 million in the production of corn, beans and rice in the municipality of Lóvua, province of Lunda Norte, within the framework of the National Development Plan of Grain Production (PLANAGRÃO).
The intention was expressed this Thursday, in Dundo City, by the coordinator of the group of businesspeople from the three countries, Marcos Macorão, at the end of the meeting with the vice-governor for Technical Services and infrastructures of Lunda Norte, Domingos Dala.
According to Marcos Macorão, in the first phase, a pilot project is planned in an area of 15 to 20 thousand hectares in Lóvua.
He added that businesspeople have all the financial and technical conditions in place, and are just waiting for administrative processes from the Government for them to begin taking the first steps and starting the pilot project from January 2024.
He appealed to the authorities to speed up the administrative process, taking into account the investors' schedule.
The vice-governor reiterated that the province has created conditions for the start of PLANAGRÃO and assured that the administrative processes, relating to land grants, will be speedy.
In the province of Lunda Norte, 500 thousand hectares have been identified in the municipalities of Lóvua and Cambulo for the implementation of PLANAGRÃO.
With the National Plan for the Promotion of Grain Production (PLANAGRÃO), valued at Akz 2.8 billion (US$3.38 million), the aim is to increase the production of rice, corn, wheat, soybeans and other cereals to more than 6,000,000 tons by the year 2027, compared to the 3,026,140 produced in 2021.
The Plan focuses on the provinces of Lunda Norte, Lunda Sul, Moxico and Cuando Cubango, although the remaining provinces are also included for upcoming dates.
It will be financed by the State, through the Development Bank of Angola (BDA) and the Angolan Venture Capital Active Fund (FACRA) and developed by the private sector.
PLANAGRÃO foresees an average annual investment of around US$670 million for cereal production and around US$471 million for the construction of infrastructure to support the productive and social sector.
The final objective of PLANAGRÃO is to contribute to the country's food and nutritional sovereignty, and a set of measures must be created that also includes the creation of infrastructure.
The Executive plans to invest, over a period of five years, the value of 1.17 billion kwanzas (US$1.23 million) in infrastructure, which includes the demarcation of two million hectares, subdivision and access roads to production areas.
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