China Int'l Fund Invests in Bus Building Project in Angola

English.chinabuses.com: with a total investment of USD 30 million from China International Fund, CSG Automovel-Angola, the first auto manufactory in the country, is expected to go into operation in Aug., according to Kelvin Kwan, Deputy General Manager of the investment company in China.

A bird-eye view of Angola’s capital Luanda

Mr. Kwan also revealed on Wed. this week that the newly built plant, located in suburbs of Luanda, the capital city of the African country, will be chiefly engaged in producing pickups, SUVs, mini-buses and coaches. At its initial stage, it will be capable of manufacturing 10,000 units of vehicles each year. Three years later, it is expected that the company will boast an annual production capacity of 30,000 units of various types of vehicles.

 

Currently, there are about 1.1 million vehicles on the road in Angola, the majority of which are from Asia and the USA.

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