In Angola Privinvest forms joint venture for shipbuilding, maritime economy

The programme will initially see Privinvest provide a range of vessels for the Angolan Navy.

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Labourers mix cement at the site of a new port to be built in the oil-producing Angolan exclave of Cabinda play Labourers mix cement at the site of a new port to be built in the oil-producing Angolan exclave of Cabinda, June 11, 2016. Picture taken June 11, 2016. (REUTERS/Ed Cropley)
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Privinvest, the Middle East-based shipbuilding group, is pleased to announce the start of a shipbuilding and maritime economy programme with the Republic of Angola.

The programme will initially see Privinvest provide a range of vessels for the Angolan Navy. In parallel, Privinvest together with Simportex, will develop and operate a shipyard in Angola.

Angola's President Jose Eduardo dos Santos talks to journalists in a file photo. REUTERS/Hugo Correia (PORTUGAL POLITICS BUSINESS) - RTXCMP1 play Angola's President Jose Eduardo dos Santos talks to journalists in a file photo. REUTERS/Hugo Correia (PORTUGAL POLITICS BUSINESS) - RTXCMP1

 

This shipyard will have modern facilities and state of the art technology and will be able to build new ships, to service ships and to provide a wide range of servicing facilities for the existing fleet.

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In addition to supplying a number of ships Privinvest will be providing a Transfer of Technology to enable the construction of naval vessels in Angola.

This initiative is a component of Privinvest’s investment strategy in Angola and the strengthening of business relations between Privinvest and the Republic of Angola, as part of the development of the country’s maritime economy.

A general view Luanda, Angola's capital is seen in this picture taken May 15, 2015. REUTERS/Herculano Coroado play A general view Luanda, Angola's capital is seen in this picture taken May 15, 2015. REUTERS/Herculano Coroado

 

Boulos Hankach, President of Privinvest Shipbuilding Investments LLC, said: "This marks another step in our cooperation with one of the most dynamic economies in Africa. It shows that we have the skills and capabilities that generate appetite to promote high-level programs in countries around the world."

Privinvest, headquartered in the Middle East, has facilities and shipyards in a number of countries including France, Germany and the Middle East.

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