The Technical Unit for Private Investment (UTIP) in Angola has approved the development of Grupo Sun Ocean Lda, a project in the country’s beverage sector by Sun Ocean Holdings Limited, a local partner with extensive experience in the Angolan market; Embasa (Equatorial Guinea); and Quantum Global (QG) African Infrastructure 1 LP.
The project will have the capacity to produce, package and distribute juice, water and wine to significantly contribute to positive economic and social impacts in Angola.
Once operational, Grupo Sun Ocean Lda targets an output of more than 80 million litres annually and creation of 400 jobs.
It will initially serve the capital Luanda’s market and nearby provinces.
Angola has shown significant progress in increasing wealth, macroenomic stability and economic diversification over the last few years.
The beverage plant will contribute to the country’s stability and ongoing development of its beverage sector and creation of comprehensive supply chains.
“I am truly delighted about the creation of the project Grupo Sun Ocean Lda and to receive the approval of UTIP. We thank UTIP’s Board as well as our new partners in Grupo Sun Ocean Lda for their commitment. Quantum Global is excited to be investing in a sector which will contribute greatly to Angola’s drink and beverage sector as well as the diversification of the Angolan economy,” commented Martin Bachmann, Group Head Active Management, Quantum Global Group.
UTIP is tasked to receive, analyse and manage private investment while considering the socio-economic justification of projects in Angola’s beverage sector.
It also approves financial models and feasibility assessments of projects.