On April 15, during a working visit to Angola by Li Xiaoyu, Vice President of Sinomach, China CAMC Engineering Co., Ltd. (CAMC) signed a cooperation memorandum of understanding with the Angola Sovereign Fund. The agreement was signed by Wang Bo, Chairman of both China Machinery Engineering Corporation (CMEC) and CAMC, and Armando Manuel, Chairman of the Angola Sovereign Fund. The signing ceremony was witnessed by Vice President Li Xiaoyu, Zhao Weilin, Chairman of YTO Group Corporation (YTO), and members of the Fund's board of directors.

CAMC signs a cooperation MOU with the Angola Sovereign Fund. [Photo/CAMC]

Under the MOU, CAMC will leverage its expertise in agricultural engineering, construction, and operations and maintenance services to collaborate with the Sovereign Fund in areas such as industrial planning, investment and financing, project construction, and operations. The partnership aims to build an integrated development model for Angola's sugar industry and related value chains, keep more industrial added value within Africa, and promote sustainable agricultural cooperation between China and Africa.

Prior to the signing of the MOU, the two sides held talks. Chairman Armando welcomed the Sinomach delegation and praised the group's advanced equipment manufacturing capabilities, especially in agricultural machinery. He highlighted the positive impact of Sinomach's large-scale projects on Angola's economic and social development, noting that this cooperation aligns closely with the Fund's core business and strategic vision. He expressed his hope for accelerating project implementation and advancing the modernization of Angola's agriculture.

Vice President Li Xiaoyu thanked Chairman Armando for his recognition of Sinomach's work in Angola and presented the group's overview. He emphasized YTO's strengths in agricultural equipment, CAMC's capabilities in engineering contracting and design consulting, along with their track record in agricultural and sugar industry projects in Angola.

CAMC and the Angola Sovereign Fund hold talks. [Photo/CAMC]

This agreement strengthens strategic mutual trust and responds directly to the proposals made by President João Lourenço during his March 2024 visit to China, where he met Chairman Wang Bo and called for deeper cooperation in energy, industrialization, agricultural machinery, and agri-processing. Sinomach and its subsidiaries will continue to align strategically with Angola's development goals and promote high-quality, mutually beneficial cooperation across the continent.