The SEZ said in a statement issued in Luanda on Thursday that the investment contract had been signed by its chairman António Henriques da Silva and by the representative of the Chinese group in Angola, Frederico Walamba P. Makilanda.
The factory will be built on an area of 14,699 square metres that has already been selected at the SEZ. It will create at least 300 jobs and has been designed to produce 319,200 mono-phasic meters and 19,800 tri-phasic meters per year.
“This number of meters will make it possible, at the end of 2024, to reach all the prepaid customers,” said Makilanda.
Zheijiang Hengye Electronics Co. Ltd is a company specialised in research and development, manufacturing and sale of tools for electricity metering, centralised meter reading, management of electricity consumption and other automated systems.
Founded in 1995, the company is based in the Special Economic Zone of Pinghu, Zhejiang, next to cities such as Shanghai, Suzhou, Hangzhou and Ningbo.