Business
UTIP investment agreement signed for Grupo Sun Ocean Lda., a company formed by Sun Ocean Holdings Ltd., a local partner with extensive experience in the Angolan market, Envasadora de Bata S.A. (Embasa) to be financed by QG African Infrastructure 1 LP
Grupo Sun Ocean Lda. to benefit from substantial synergies in beverage manufacturing and production and create a base for sustained growth and profitability in Angola and neighboring countries
A company (“Grupo Sun Ocean Lda.”) formed by Sun Ocean Holdings Ltd., a local partner with extensive experience in the Angolan market, Embasa (Equatorial Guinea) and QG African Infrastructure 1 LP has received formal approval from UTIP (Technical Unit for Private Investment) in Angola. Grupo Sun Ocean Lda is a project in Angola’s beverage sector with capacity to produce, package and distribute juice, water and wine with significant capacity to contribute to positive economic and social impacts in Angola.
UTIP, whose function is to receive, analyse and manage private investment, took into consideration the socio-economic justification of the project within the Angolan context, in particular, for the beverage sector in the country. In addition, the approval provides a green light for the projects financial model and feasibility assessment.
Martin Bachmann, group head active management, Quantum Global Group commented: “I am truly delighted about the creation of this project [Grupo Sun Ocean Lda.] and to receive the approval of UTIP. We thank UTIP’s Board as well as our new partners in Grupo Sun Ocean Lda for their commitment. Quantum Global is excited to be investing in a sector which will contribute greatly to Angola’s drink and beverage sector as well as the diversification of the Angolan economy.”
Once fully operational, Grupo Sun Ocean Lda. has a target output of over 80 million litres annually and will employ over 400 employees. The company will occupy a unique position in Angola’s drinks and beverage market, in a country that has shown significant progress in increasing wealth, macroeconomic stability and economic diversification in recent years. Working to develop local juice, water and wine production and packaging capacity in Angola, initially serving the Luanda market and other nearby provinces in Angola, Grupo Sun Ocean Lda. is well positioned to contribute to the stability and ongoing development of the country’s drink and beverage sector as well as the significant creation of new jobs and comprehensive supply chains.
Aug 15,2017 @ 16:10 GMT
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