to-the-point: Angola's Biocom to get USD 210m of loans to raise production

Angola-based bioenergy company Biocom will receive in 2016 a USD-210-million (EUR 196.4m) loan from local banks to increase its energy, sugar and biofuel production, local media report.

The president of the country has given his approval for the transaction last month. Through Presidential Decree 193/15, Biocom was able to negotiate the terms with the finance minister along with the issue of a sovereign guarantee on behalf of the state.

The African company's shareholders include Brazilian group Odebrecht, with 40% of the capital, Angolan group Cochan, also with 40%, and state-run oil company Sonangol EP with the remaining 20%.

(USD 1 = EUR 0.935)

Choose your newsletter by Renewables Now. Join for free!