Economic Growth in Benguela Boosted by Lobito Refinery and Corridor Projects

The construction of the Lobito Refinery and the operationalization of the Lobito Corridor are attracting significant investor interest in Benguela, driving the province’s economic growth.

This was highlighted by Adilson Gonçalves, the Vice-Governor for the Technical Sector and Infrastructures, during his remarks on the success of the Benguela International Fair (FIB) held from last Wednesday to Sunday.

Preliminary figures from the 13th Benguela International Fair, presented to Jornal de Angola by Bruno Albernaz, President of the Board of Directors of Grupo Arena (the event organizers), indicate a turnover of four billion kwanzas. This is double the two billion predicted for FILDA 2023, which was held in July of that year.

According to the Vice-Governor, Benguela has emerged as a leader in socioeconomic development over the past two years, thanks to its strategic geographical location and substantial investments.

These investments include both local and external capital, spurred by major economic projects underway in the province.

“Currently, we are constructing the largest refinery in the country, with a capacity to process 200,000 barrels of oil per day. Alongside this, the operationalization of the Lobito Corridor, including the Benguela Railway, has significantly boosted economic growth and attracted investors,” Gonçalves stated.

The FIB plays a crucial role in this context by showcasing the region’s potential and fostering connections with investment partners.

Additionally, it stimulates transactions and opportunities in various sectors such as hotels and tourism, which are abundant in the province, according to the Vice-Governor.

SOURCE:https://freighttrendsglobal.com