According to Anmedia reports, a new steel production and rolling production line was completed in Luanda today, aimed at reducing the country’s imports and large foreign exchange expenditures.
The inauguration ceremony was presided over by the Minister of National Economic Coordination, Manuel Nunes Júnior, and Fabrimetal built the production line, located in Viana, with an investment of 21 million US dollars and a daily production capacity of 80 tons. After production, the supply of this product will be greatly increased.
Angola spends an average of three million U.S. dollars a year to buy steel products for civil construction, industry and other national economic fields.
The minister stated that the government has been working hard to revitalize the national economy. In order to produce high-quality steel, it plans to expand the recycling of scrap steel from 21 existing suppliers to various economic fields. In addition to waste recycling in non-traditional industries, oil and mining industries are also used as suppliers.
With a history of 10 years in the market, Fabrimetal is an Angolan company that belongs to the MMD steel business group. It has contributed to the development of the civil construction industry and reduced its dependence on steel imports.
