Japanese negotiate 525 million euro investment in southern Angola.

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The Japanese group Toyota Tsusho plans to invest 525 million euros in a project approved by the Angolan government for the development of the Namibe Bay in southern Angola, according to a presidential dispatch to which Lusa has had access.

The information comes from an order signed by Angolan President João Lourenço, published on Monday and to which Lusa had access, authorizing the project and its inclusion for financing under the credit line opened for Angola by JBIC - Japan Bank for International Cooperation.

The document, which does not elaborate on further details, authorizes the Angolan minister of Transport to celebrate the contract for the Integrated Namibe Bay project with the Toyota Tsusho Corporation and the TOA Corporation, in a total amount of US $ 600 million (525 million euros).

"As there is a need to guarantee the continuity and implementation of the Government's program in what regards the diversification of financing sources for the implementation of projects included in the Public Investment Program and other programs and projects of national interest included in the National Development Plan 2018 - 2022", justifies the order.

Founded in 1887, the Japanese group Toyota Tsusho has more than 12,000 employees and is present in various business areas in 39 countries, including 34 in Africa, according to information provided by the company itself.

During the Portuguese colonial period, the province of Namibe became the main fishing port in Angola - in the bays of Moçâmedes, the capital, and Tômbwa - and a large part of its territory is desert, considered to be the oldest in the world.

The Namibe desert, considered one of the seven wonders of Angola, is divided into a dune area and a quick sand area, spanning nearly 200.000 acres, without any water or any kind of conditions for agriculture or livestock breeding.

In the surrounding area, which takes up one-third of the entire province of Namibe, despite the dryness and aridity, there are areas where the local ancestral tribes are able to carry out agricultural and pastoral activities.

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