UAE Commits $750 Million to Revitalize Angola Pulp Sector

Angola's pulp sector will receive $750 million from the United Arab Emirates for a cellulose industrial project in Huambo and Benguela provinces, former home of Companhia de Celulose e Papel de Angola (CCPA). The late December investment intention contract involves AIPEX – Angola's Private Investment and Export Promotion Agency – and Everwood- Investimentos e Comércio, funding a unit to revive the industry.​

The $750 million UAE-backed project aims to establish a complete, sustainable, internationally competitive forest-industrial system. Phased and modular implementation includes sustainable eucalyptus plantations and a modern pulp factory, ensuring raw material supply, local industrialization, job creation, and socioeconomic development. The contract, signed by AIPEX Chairman Arlindo das Chagas Rangel and Everwood representative Qiang Fu – CEO and founder of Full Bliss Angola plastics firm – projects 1,014 jobs: 810 for nationals, 204 for expatriates.​

The project document stresses future close, long-term cooperation with Angola's government for legal, prudent, sustainable execution. Angola's government has pursued sector infrastructure: in 2019, Forests Secretary André de Jesus Moda announced a Benguela pulp factory with the Sovereign Fund; in 2014, Industry Minister Bernarda Martins planned CCPA complex rehabilitation in Ganda, Benguela.​

This UAE investment highlights growing interest in Angola, following 2024's 44 agreements worth $6.5 billion across sectors. President João Lourenço praised UAE contributions to economic diversification, noting their role as a top African investor with over $100 billion committed since 2019 during a meeting with Sheikh Mohamed Bin Zayed Nahyan.