Economy, ANGOLA:
Chinese and Brazilian companies in ambitious projects in Angola

11/28/2012 8:17:54 AM Reprint | | Print |

LUANDA - Chinese and Brazilian companies are engaged in ambitious projects in Angola, with the Chinese building the Kilamba New City, a huge development designed to house half a million people. - Brazilian construction giant, Odebrecht, is in charge of key projects like electricity, water grids and road construction. It is also dedicated to diamond mining and controls the Nosso Super chain of supermarkets.

But Angolan commentators note the Chinese investment’s failure to create employment locally and the danger that such large monopolies pose to local small and medium firms that could work on smaller scale projects.

The housing infrastructure is also failing to solve the demand for homes with the majority of those in need unable to afford the purchase price or rentals.

A lack of piped water and electricity services are also common complaints. /IPS (END//2012)

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