ANGOLA – Steel profile production plant Fabrimetal has made an additional investment of US$ 21 million to increase its installed production capacity by 90,000 tonnes per year.
The factory which was opened a few days ago will increase production and help the sector fill the existing steel market deficit.
According to a press release from the factory, the plant is already undergoing testing and staff training phase with production set to begin mid this month.
After investing in two new production lines in 2016 with a view to producing complementary items to the steel rod, the new investment will allow for an increase in production for the export market as well as ensuring supply to the domestic market.
Fabrimetal also intend to strengthen its position in the domestic market as the leading national producer of steel rod and also of complementary products, bars, angles and profiles as these are not being produced in the country thus contributing in a very significant way to the increase of economic diversification and consequent reduction of steel imports.
At the same time, it is envisaged that the new investment will also contribute to increasing the inflow of foreign exchange into the country as it intends to export up to 25% of its production to neighbouring countries, namely DR Congo, Namibia, Zambia, Ghana, Senegal, Mali and others.
Fabrimetal is a privately-owned company located in Luanda, Angola.
It was formed in 2006 and is the leading manufacturer of FM TMT® rebars high-quality thermo mechanically-treated steel reinforcement bars in used to construct residential, commercial, industrial, and civil structures in Angola.
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