An artist's impression of the stadium being built in Benguela

Angola's two main exports - oil and diamonds - may have plunged but this has not affected preparations for the 2010 African Nations Cup.

A scene on the outskirts of the capital Luanda certainly defies the notion of scaling back in bad times.

A 50,000-seat stadium has risen in Camama where thousands of people live in shanty towns without running water or electricity.

About 900 workers, mostly Chinese, are engaged on its construction.

When complete, it will be the showpiece venue for next year's Nations Cup.

Thousands of fans are expected to come to Angola for the tournament - involving the continent's 16 top teams.

The cost of staging the competition has been put at one billion dollars - $600 million alone is the price tag on new stadiums in Cabinda, Huila, Benguela and in Camama which will host other matches as well as the final.

Millions more will be used to revamp old airports, roads and build hotels across the nation to accommodate the increased number of tourists expected.

"We're working at breakneck speed to have this ready before the end of the year," said Manuel Mariano, marketing director of the Local Organising Committee (CAN 2010).

Such investment might seem foolish in the face of a global recession.

Just last month the government cancelled the World Diamond Summit, branded as one of the most important gatherings of diamond producing nations, in an indication that the industry was losing its lustre.

Yet nothing seems to get in the way of football - a sport the Angolans inherited from former colonial rulers Portugal.

The hype is understandable. It will be the first international football competition to be staged by Angola in several decades.

Analysts say the country's hosting of the tournament could also help keep the engine of its economy from stopping now that global demand for oil and diamonds is down.

"Football is a passion for Angolans," said Alex Vines, the head of Africa Research for London-based think-tank Chatham House.

"The investment in the tournament is huge, I agree, but it also means more jobs and it can definitely help the economy grow."

The event has also helped attract much-needed foreign investment in new infrastructure and other sectors of the economy as Angola recovers from the almost three decades-long civil war that ended in 2002.

"I feel that investors are looking at the Angolan market with even greater interest than before," said Aguinaldo Jaime, the head of the country's investment agency ANIP.

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