Some US$110 million in funding will be provided by Saudi Arabia for the development of the industrial hub at Catumbela in Benguela province on Angola’s south coast.
According to the Portuguese news agency Lusa, Saudi envoy Ahmed Bin Abbulazizi Kattan announced details of the loan after meeting recently with João Lourenço, Angola’s president.
“We also addressed many important issues, namely how to strengthen our cooperation in the most varied domains,” the envoy added.
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As of last year, there were some 88 companies operating at Catumbela, in sectors ranging from construction materials to hydrocarbons.
The two also discussed the upcoming Saudi Arabia-Africa summit, to be held in November in Riyadh.
Growing ties between Angola and Saudi Arabia build on a technological and scientific cooperation pact signed in 2018.
