Africa's First Four Project Contracts Signed For Investment By China-Africa Fund

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.

600450 Africa's First Four Project Contracts Signed For Investment By China-Africa Fund glassonweb.com
Date: 19 January 2008
Source: English.people.com.cn

See more news about:

See more from these topics:

Others also read

Kohn Pedersen Fox (KPF) proudly supported the opening of MGM COTAI on Tuesday, February 13 2018. The resort is the latest addition to the MGM portfolio in Macau.
With various features including light weight, thin thickness, clear transparency, high safety, and extensive use in many aspects of building construction without regional limitation, LandVac has been well received by consumers.
As the launch pad for new products and technologies on window, door and facade in China, the 24th Windoor Expo will take place in Guangzhou from March 11 to March 13, 2018.
Considering the use of energy-saving glass as the determinant of a building’s power conservation, vacuum insulated glass currently offers the most outstanding performance in energy-saving. Among them, LandVac® is one of the best.
Recently, LandGlass is successfully selected into the list of the Innovative Large Enterprises of the City by the department of science and technology in Luoyang.
Glass expertise in oversize formats.

From industry

No. 160 Yichuan Rd.,
Jiaonan Shi
Qingdao Shi
Shandong Sheng, 266000
China

Add new comment