Text Version
RSS Feeds
Newsletter
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  SERVICES
  -Text Version
  -RSS Feeds
  -Newsletter
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
 -
 -
Africa's first four project contracts signed for investment by China-Africa Fund
+ -
18:21, January 17, 2008

 Comment  Tell A Friend
 Print Format  Save Article
On January 15th, the first batch of investment projects in Africa by the China-Africa Fund was signed in Beijing; the cooperative agreement totals over 90 million dollars.


A total of four projects were signed: 1. the investment by the China-Africa Fund and the Overseas Construction Co., Ltd. cooperating in Ethiopia to produce 40,000 tons of glass, which is the first local glass factory there.

Production is expected to begin in May of this year, and will be the first time in history that glass is produced in this country; 2. in cooperation with the Shenzhen Energy Investment Co., Ltd., the investment in Ghana to build a 200,000 kilowatt gas plant; 3.the ferrochrome processing projects in cooperation with China Steel Group in Zimbabwe; and 4.working with China's Building Materials Corp. to set a platform to support Africa's cooperation with China, African countries will receive investment in cement, glass and other building materials projects.

The Chinese-African Development Fund was established in June 26, 2007; and is the first established fund announced by the Chairman, and inaugurated by our national leader of the State Council. It is also the first fund in the country that focuses on non-equity investment. The China-Africa Fund independently makes decisions; operates in the market; and shoulders the risks by hiring a professional operations and management team. It also leads and supports Chinese enterprises to expand non-direct investment; deepens Chinese-African economic and trade cooperation in market-oriented ways; promotes the African region's economic development and improves people's livelihood; and aims to achieve mutual development. The first phase of the fund was financed by the CDB with 1 billion US dollars; the total will reach up to 50 billion dollars.

By People's Daily Online



  Your Message:   Most Commented:
Is 'Laowai' a negative term?

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved

http://english.people.com.cn/90001/90776/6340342.pdf