US$1 Million Invested Into Cattle Breeding Project
ANGOLA - Some US$1.2 million were invested by the firm Saema in the inplementation of a cattle breeding project, in Kialangua locality, Zaire's Nzento district, Angop has learnt.
9 December 2010
1 minute read
Angolan company Saema has invested over US$1 million in a large scale agri-livestock project in the municipality of Nzeto, the company’s managing director told Angolan news agency Angop.
José Alberto from the company said that the investment was to set up a support site, acquiring seeds and equipment (tractors, ploughs, sowing and harvesting machinery), support vehicles, as well as staff expenses, amongst other expenditure.
The company has an area of 1,000 hectares of land to implement it agri-livestock project, 500 hectares of which are already producing cassava, maize, beans, potatoes, watermelon, tomatoes and cabbage, as well as raising pigs.
The manager of Saema said that negotiations were underway with several national and foreign financial institutions to secure a loan of US$20 million to re-launch the project and make it more effective in the short term.
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