China to build cement factory in Cape Verde

China plans to build a cement factory in Cape Verde at a total investment of US$55 million, as part of a package of trade agreements that China signed with ten African countries Sunday in Beijing. The construction of the factory on Santiago Island is a “strategic objective” for Cape Verde as it will support the construction of infrastructures in the country, financed by the United States, the European Union (EU) and the World Bank.

“The intention is, not only to supply the domestic market in this phase of growth in investment in infrastructure in Cape Verde but also, considering the external focus and the platform on which the Cape Verdean government plans for the country to be, to export the cement top West African markets,” Cape Verde’s ambassador in Beijing, Júlio Morais told Portuguese news agency, Lusa.

The construction of the cement factory is likely to be placed in the hands of the China Building Material Industrial Corporation for Foreign Econo-Technical Cooperation (CMBC).

The contracts were signed at the end of the Conference for Chinese and African Businesspeople, which took place Sunday in Beijing as part of the head of state and government summit of the Forum for China-Africa Cooperation (FOCAC).

Cape Verde was represented at the summit by prime minister José Maria das Neves and the minister of the Economy, Pereira da Silva, and Foreign minister, Victor Borges.

In 2005 trade between China and Cape Verde reached a total of US5.19 million.

Diplomatic relations between Cape Verde and China began on April 25, 1974, and since then Cape Verde has had economic and technical cooperation from China and Beijing has funded several projects on the archipelago, such as the National Assembly, the Governmental Palace and the National Auditorium.

China is currently building the first dam in Cape Verde, on the island of Santiago, and the two countries are negotiating the construction of other dams, a national stadium on the outskirts of the capital, a ceramics factory on Boa Vista Island and an industrial fishing unit on Santiago Island.


Source: macahubo - 07/11/2006