Tuesday, January 15, 2008; Posted: 07:07 PM
The agreements were signed between the CAD and four Chinese companies, namely CGC Overseas Construction, Sino-Steel Corporation, China Building Materials and Shenzhen Energy Investment Corporation.
The investment will be used to build a glass factory capable of producing 40,000 tonnes of glass in Ethiopia, a gas-fired power plant with installed capacity of 200,000 kilowatts in Ghana, a chromite project in Zimbabwe and a building material project.
The China-Africa Development Fund will not be involved in the management of the projects, said CAD General Manager Chi Jianxin.
The four projects cost about 400 million U.S. dollars and the four companies will pay for the rest.
In June, China set up the one billion U.S. dollar CAD to encourage Chinese enterprises to expand investment in Africa and promote the continent's economic expansion. Enditem (?)
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
    |
   |
