Huge potential for Chinese firms jostling for African infrastructure development

2013-02-08

Chinese firms have been at the forefront of developing transport infrastructure in Africa, and China has been one of the largest destinations for raw material exports from the continent. A conference in Cape Town this week suggests there is plenty more of opportunities for Chinese construction firms in Africa. For instance, the continent needs to spend over $52bn on 4,000 km of railways in order to exploit planned African iron ore projects, according to International Finance Corp.

The IFC estimates that up to $13.6bn needs to be spent in Guinea alone to develop two railways and a port.

China’s Ministry of Commerce has noted recently that Africa will surpass the European Union and the United States as China’s largest trading partner in the near future.

-- Source from Sino Ship News

Source from :

HEADLINES