Angola Gets $1 Billion Boost From Japan to Revive Textile Plants
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Angola is spending $1 billion to revamp three fabric plants that will employ 2,700 people, said the local unit of Marubeni Corp., Japan’s biggest trader of grains and food products, which is rehabilitating the factories.
Reconstruction of the $270 million Textang II facility, which will be able to produce 9 million meters (30 million feet) of fabric annually, may be completed in two months, Koichi Nagashima, managing director of Marubeni’s Angolan unit, said in a June 6 interview in the capital, Luanda. Two other plants will start output in 2015, he said.