China's Haishan Group unveils major aquaculture project in Angola

Haishan Group Chairman Zheng Gang receiving an award from the Angolan government.
Haishan Group Chairman Zheng Gang receiving an award from the Angolan government | Photo courtesy of Haishan Group
4 Min

On the eve of a visit to China by Angola President João Lourenço, a Chinese conglomerate announced a major investment in an Angolese aquaculture project.

Haishan Group, a private Beijing-based construction firm, has announced its involvement in the construction of a 300-hectare real estate and fishery industrial park featuring aquaculture, seafood processing, and feed production facilities – as well as a 164-hectare automatic technology “city” and a 120-hectare commercial real estate project.

Haishan has operated in Angola since 2005 under its local subsidiary H&S Imobiliária, which has focused on high-end real estate development and infrastructure projects. It has also become involved in the development of Angola’s agricultural sector through investments in poultry and horticulture projects.

Speaking at a launch party in Luanda, Angola’s capital, Haishan Chairman Zheng Gang said his company will spend USD 1 billion (EUR 920 million) on the project over the next five years. Mingyu Industrial Group, Sichuan Hongling Group, and “well-known Chinese financial institutions” are also involved in the project as strategic partners.

China is Angola’s top supplier of industrial goods and is also a major buyer of Angolan oil.

Lourenço conducted a state visit to China from 14 to 17 March that included a trip to Shandong province, a key region for Chinese aquaculture and seafood output.

This followed a Chinese government-organized trip that Angolan diplomats based in Beijing took last year of Chinese seafood facilities in southern China, including a visit to the Fujian headquarters of Fuzhou Hong Dong Pelagic Fishery, a leading distant-water fishing company with a large processing operation in Mauritania.

Elsewhere, in 2018, Chinese aquaculture firm Sino Agro Foods previously announced plans to build a major shrimp and feed production facility in Angola with a local partner, but this project hasn’t yet been built amid the firm’s mounting financial troubles.

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