Angola: The Nova Cimangola cement plant will get US$116m from the Angolan government to boost its cement production capacity, as per a presidential decree. The funds will be transferred by the Finance Ministry and will ensure a greater cement supply to the Angolan market and reduce cement prices.
The presidential decree described the importance of cement in the process of repairing and building manufacturing and social infrastructure in Angola, as well as for execution of house building programmes. The shareholders of Nova Cimangola are Ciminvest (49%), the Angolan State (40%) and the state bank Banco Angolano de Investimentos (10%). The remaining 1% is in the hands of individual shareholders.