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Wed, 21 Aug 2019 16:29 - Updated Wed, 21 Aug 2019 16:28

State receives inactive factories

Luanda - Textile factories built with public funds and seized by the Attorney General of the Republic, in the provinces of Luanda, Benguela and Cuanza Norte, began to be formally handed over to the state last Tuesday.

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The formal delivery process began with the Textang II unit (Luanda) and is expected to continue today (Wednesday) in Benguela province, where Africa Textile is targeted.

Friday will be delivered SATEC, located in Dondo village, province of Kwanza Norte.

In June, PGR had already advanced with the seizure of these units, given the irregularities in the privatization process and the non-compliance by the new owners with the contractual clauses, namely in the financial chapter.

At the time, the director of the PGR Asset Recovery Service, Eduarda Rodrigues, said the process, now triggered, made perfect sense, as the state was the only one to bear the costs.

"They benefited from a credit line, with a sovereign guarantee and never paid this debt, who paid monthly to the international bank was the Angolan state," said the lawyer, noting that for more than a year the subject was discussed, but without solution.

He added that there was a need to take action, “because we could not continue to assume responsibility that, apparently, should not belong to the state. We assume that, in fact, the ownership of these factories has to pass even to the legal sphere of the State, which assumes this responsibility from the beginning,” she said.

Eduarda Rodrigues said that with the return of this asset to the state, the state will monetize it to be able to have the repayment of amounts that has been paying to international banking.

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