Luanda, July 21, 2025 (Lusa) - The Chinese company CITIC Construction (Angola) revealed on Monday that it plans to invest, in a first phase, US$250 million (€212.2 million) in large-scale agricultural projects, with a focus on corn and soybeans.
A memorandum of understanding was signed today in Luanda by the director-general of the Chinese multinational, Fan Juntao, and Angola’s minister of agriculture and forestry, Isaac dos Anjos.
The Angolan Ministry of Agriculture and Forestry said in a press release that the memorandum also provides for the installation of modern genetic improvement laboratories for seed certification, the promotion of agricultural inputs to support the pesticide and fertilizer production chain and the smart storage system in key agricultural regions, as well as the signing of an agreement for the purchase of agricultural products.
“This instrument should cover several areas of cooperation, ranging from: a) Promotion of large-scale soybean production in Angola’s main agricultural regions; b) creation and optimisation of a complete agricultural value chain, including seeds, inputs, machinery, technology, silos and export channels; c) establishment of a phytosanitary inspection and quarantine system for the export of cereals to the Chinese market, promoting the signing of a bilateral agreement,” the note said.
Speaking to the press, Fan Juntao said that the company already has 3,000 hectares of land available in the province of Cuanza Sul and 5,000 hectares in the province of Malanje, with a view to obtaining up to 20,000 hectares between this year and next, with the ambition of reaching 100,000 hectares in a more general vision.
“Our estimated investment at this stage is US$250 million, not including future operations. We will implement [the project] in phases, with all financing coming from Chinese investors, led by CITIC,” he said.
Fan Juntao said that priority will be given to the production of corn, the main cereal within the country’s needs, and in the second phase to the production of soybeans.
"Because our idea in the future is, after satisfying local needs, to export soybeans to China," he said, stressing that the goal is to introduce high technology in production.
According to the businessman, the initial forecast is to reach eight tonnes of corn per hectare and up to five tonnes per hectare for soybeans.
For his part, the Angolan Minister of Agriculture and Forestry considered the memorandum signed with CITIC for large-scale production projects to be “historic”, with a view to “opening new markets for production in Angola”.
Isaac dos Anjos highlighted the advantage of having an existing buyer for soybeans, the producer itself, and also welcomed this window of opportunity for Angola to align itself with the export of products to Asia.
“This is a unique opportunity that we cannot lose sight of,” said the minister, stressing that a 60% share for export and 40% for local consumption had been agreed, and highlighting the importance of this cereal as a complement to livestock production.
The Angolan Minister of Agriculture and Forestry announced that a new agreement with another Chinese company will be signed next Thursday, signifying that the country is open to the presence and participation of multinationals from various parts of the world.
“The fact that we are opening up [opportunities] to China should not be a cause for jealousy, we have a lot of land and we are waiting for investors,” he said.
On the government’s part, there are facilities and incentives for land concessions, phytosanitary treatment and monitoring and large-scale standards and protocols, the minister added.
NME/AYLS // AYLS
Lusa
