Quantum Global African Infrastructure 1 LP, Envasadora de Bata S.A. (Embasa) and Sun Ocean Holdings Ltd., have received approval from the Technical Unit for Private Investment (UTIP) in Angola to set up a beverage plant in Angola.
The joint venture, Grupo Sun Ocean Lda is a project for the Angola’s beverage sector with the capacity to produce, package and distribute juice, water and wine. The company has a significant capacity to contribute to positive economic and social impacts in Angola.
“I am truly delighted about the creation of this project 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,” said Martin Bachmann, Group Head Active Management, Quantum Global Group.
Why the approval was given to the company
UTIP, whose function is to receive, analyse and manage private investment, took into consideration the socio-economic justification of the project within the Angolan context, in particular, for the beverage sector in the country. In addition, the approval provides a green light for the projects financial model and feasibility assessment.
Once the plant is fully operational, Grupo Sun Ocean Lda. which has a target output of over 80 million litres annually will employ over 400 employees. The company will also occupy a unique position in Angola’s drinks and beverage market. This is happening in a country that has shown significant progress in increasing wealth, macroeconomic stability and economic diversification in recent years. Working to develop local juice, water and wine production as well as packaging capacity in Angola, will contribute to the stability and ongoing development of the country’s drink and beverage sector as well as the significant creation of new jobs and comprehensive supply chains. This will also serve the Luanda market and other nearby provinces in Angola.
What you need to know about Grupo Sun Ocean Lda.
Grupo Sun Ocean Lda. is a company formed by Sun Ocean Holding Ltd, Envasadora de Bata S.A and QG African Infrastructure 1 LP. Sun Ocean Holding Ltd.; a beverage and juice raw materials company, an Angolan company with extensive experience in the local market, Envasadora de Bata S.A; an Equatorial Guinea holding company in the beverage sector with strong experience in the management of the construction and operation of beverage production and packaging factories and QG African Infrastructure 1 LP; an investment vehicle managed by Quantum Global with attractive risk diversification across countries, sectors and underlying demand, exploring investment opportunities for early stage, expansion and exit including Greenfield and Brownfield investments.
