Those are 6 lane evevated motorways in big cities. NOT a simple bridge with a couple pillar support structures over a small canal.
There also the cost is per kilomoter. Here the bridge is not even 100 meters long, in an open rural area.
China-Africa Co-operation: News and Discussions
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Those are 6 lane evevated motorways in big cities. NOT a simple bridge with a couple pillar support structures over a small canal.
There also the cost is per kilomoter. Here the bridge is not even 100 meters long, in an open rural area.
$@rJen
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Not really... 4 billion for 300 mile regular tracks are not fair enough.
yes that was being built by Chinese company but if it ws a heavy flood its understandable.
Sine Nomine
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And sadly majority elects politicians to office and majority is fascists and fascists are lunatics.
An old Rajput tribesmen saying,
''Die with hunger rather then taking debt''
''Debt are shackles unseen''
Allah Protect us all from them.
It also looks shady,https://en.m.wikipedia.org/wiki/Mombasa–Nairobi_Standard_Gauge_Railway
$@rJen
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Probe into collapse of new hydropower project
Khalid HasnainFeb 22, 2017
18
0
LAHORE: The Punjab government on Tuesday launched a probe into the collapse of structure of recently completed 4.8MW hydropower project at the Upper Chenab Canal in Sheikhupura district. The project is being executed by Chinese firm under supervision of the energy department.
Officials say the inquiry team has been tasked with looking into all aspects of the construction work.
“A five-member inquiry team has been constituted by the chief minister. The team will submit its preliminary report to the CM within next three days,” a senior irrigation department official told Dawn on Tuesday. He said the collapse had caused closure of the Upper Chenab Canal and its linking canals falling within Mangatawala canal system.
“Since the occurrence of the incident on Saturday, the UCC and other link canals are closed. The work on restoration of these canals is underway whereas the collapsed structure is still present in the UCC,” the official, who requested anonymity, added.
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Govt has paid 80pc cost to Chinese contractor before test run
The entire structure of the 4.8MW hydropower project had collapsed on Saturday, suspending supply of irrigation water to huge chunks of agriculture land in several areas. The civil work of the project was recently accomplished by the firm which was also working on a couple of more such projects in Punjab.
Another irrigation department official said the firm was an engineering, procurement, construction (EPC) contractor and was awarded contract by the energy department.
“The test run of the project was also expected to start in the coming days. And collapse of its structure a couple of days before is very serious matter and the government must probe the issue in depth,” the official said.
The project is being executed at the Upper Chenab Canal between Kot Abdul Malik and Sheikhupura (Chianwali). The entire structure sunk into the canal after the collapse.
“The structure has completely sunk into the canal which shows that it was poorly designed and constructed. Its finishing work was also very poor and anyone could easily see it with the naked eye,” the official told Dawn.
He further said the Chinese firm had already been paid about 80pc of the total project’s cost in the form of running payments/bills it submitted to the authorities. Due to the structure collapse, the irrigation department is facing difficulty in restoring the routine flow of the 4,000 cusec of the Upper Chenab Canal and 600 cusec of link canals of Mangatawala canal system. The irrigation water supply to the agriculture land of Nankana, Sheikhupura and other districts has been cut off.
When contacted, Energy Department Secretary Asad Gilani said the incident was being probed.
“The firm, whom the department awarded the project, is an EPC contractor and it is responsible to build the project under the agreement,” he added.
Published in Dawn, February 22nd, 2017
https://www.dawn.com/news/1316211
Yeppp... And Kenya has the plan to extent the railway connectivity to other west african nations under 14 billion Plan.. which is too ambitious for their economy now most of this cost will be via chinese loan, Already the currunt railway is not running prperly due to the heavy fare costs, compared to the one china built in Djibouti Kenyan's have to pay double
Khalid HasnainFeb 22, 2017
18
0
LAHORE: The Punjab government on Tuesday launched a probe into the collapse of structure of recently completed 4.8MW hydropower project at the Upper Chenab Canal in Sheikhupura district. The project is being executed by Chinese firm under supervision of the energy department.
Officials say the inquiry team has been tasked with looking into all aspects of the construction work.
“A five-member inquiry team has been constituted by the chief minister. The team will submit its preliminary report to the CM within next three days,” a senior irrigation department official told Dawn on Tuesday. He said the collapse had caused closure of the Upper Chenab Canal and its linking canals falling within Mangatawala canal system.
“Since the occurrence of the incident on Saturday, the UCC and other link canals are closed. The work on restoration of these canals is underway whereas the collapsed structure is still present in the UCC,” the official, who requested anonymity, added.
Advertisement
Govt has paid 80pc cost to Chinese contractor before test run
The entire structure of the 4.8MW hydropower project had collapsed on Saturday, suspending supply of irrigation water to huge chunks of agriculture land in several areas. The civil work of the project was recently accomplished by the firm which was also working on a couple of more such projects in Punjab.
Another irrigation department official said the firm was an engineering, procurement, construction (EPC) contractor and was awarded contract by the energy department.
“The test run of the project was also expected to start in the coming days. And collapse of its structure a couple of days before is very serious matter and the government must probe the issue in depth,” the official said.
The project is being executed at the Upper Chenab Canal between Kot Abdul Malik and Sheikhupura (Chianwali). The entire structure sunk into the canal after the collapse.
“The structure has completely sunk into the canal which shows that it was poorly designed and constructed. Its finishing work was also very poor and anyone could easily see it with the naked eye,” the official told Dawn.
He further said the Chinese firm had already been paid about 80pc of the total project’s cost in the form of running payments/bills it submitted to the authorities. Due to the structure collapse, the irrigation department is facing difficulty in restoring the routine flow of the 4,000 cusec of the Upper Chenab Canal and 600 cusec of link canals of Mangatawala canal system. The irrigation water supply to the agriculture land of Nankana, Sheikhupura and other districts has been cut off.
When contacted, Energy Department Secretary Asad Gilani said the incident was being probed.
“The firm, whom the department awarded the project, is an EPC contractor and it is responsible to build the project under the agreement,” he added.
Published in Dawn, February 22nd, 2017
https://www.dawn.com/news/1316211
Yeppp... And Kenya has the plan to extent the railway connectivity to other west african nations under 14 billion Plan.. which is too ambitious for their economy now most of this cost will be via chinese loan, Already the currunt railway is not running prperly due to the heavy fare costs, compared to the one china built in Djibouti Kenyan's have to pay double
Sine Nomine
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They are going to run it for 5 years also.
kris
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Read further news papers....Can you tell me which Indian political party was eaten alive? In this incident, the death toll was 26.
It will cause too much unnecessary headache for ruling party, which isn't worth it..
It can't be just brushed away in india
First of all coal powered powerplants themselves are outdated by solar
Second they are charging 2x times
Third they are importing coal from Indonesia, not as previously advertised from thar..
Looting in broad daylight
Realtalk108
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Read what, exactly? Do you have any link? I don't think a single WB politician went to jail for this.
kris
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True.
But the harassment they face and loss of seat in next election won't be sufficient punishment.
JSCh
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Kenya launches special economic zone project
Source: Xinhua | 2017-07-08 18:20:47 | Editor: huaxia
Engineering vehicles are seen on the launching ceremony of the Special Economic Zone project, in Eldoret, Kenya, on July 7, 2017. (Xinhua/Pan Siwei)
ELDORET, Kenya, July 8 (Xinhua) -- Kenya on Friday launched a Special Economic Zone (SEZ) project that is expected to attract about 2 billion U.S. dollars of foreign investments.
At the ground-breaking ceremony, Deputy President William Ruto said the project is a joint venture between Kenyan-based company Africa Economic Zone and China's Guangdong New South Group.
Its Phase 1 consists of a 700-acre industrial park that will house firms from agro-processing, chemical and constructing sectors, according to Ruto.
The Phase 2 will target technology firms, while Phase 3 will focus on the hospitality sector. The project was made possible after the signing of an agreement between the Kenyan and Chinese firms in China during the Belt and Road Forum (BRF) for International Cooperation.
Ruto said the project will enable Kenyan industrialists to benefit from the vast manufacturing experience that China has accumulated over the past 30 years.
He said that the Kenyan government has been considering establishing the SEZs for the past 15 years, but the facilities can now be licensed in the country following the enactment of the SEZ act in September 2015.
"Less than two years later after the law was passed, Kenya has been able to license the first private SEZ," he said.
The SEZ law lays the development framework that outlines the special tax incentives for industries that set up shop in the zones.
The deputy president noted that developed nations have utilized SEZs to improve the living standards of their citizens.
"We also intend to use the zones to expand job creation and wealth creation opportunities especially among the youth," he added.
Source: Xinhua | 2017-07-08 18:20:47 | Editor: huaxia
ELDORET, Kenya, July 8 (Xinhua) -- Kenya on Friday launched a Special Economic Zone (SEZ) project that is expected to attract about 2 billion U.S. dollars of foreign investments.
At the ground-breaking ceremony, Deputy President William Ruto said the project is a joint venture between Kenyan-based company Africa Economic Zone and China's Guangdong New South Group.
Its Phase 1 consists of a 700-acre industrial park that will house firms from agro-processing, chemical and constructing sectors, according to Ruto.
The Phase 2 will target technology firms, while Phase 3 will focus on the hospitality sector. The project was made possible after the signing of an agreement between the Kenyan and Chinese firms in China during the Belt and Road Forum (BRF) for International Cooperation.
Ruto said the project will enable Kenyan industrialists to benefit from the vast manufacturing experience that China has accumulated over the past 30 years.
He said that the Kenyan government has been considering establishing the SEZs for the past 15 years, but the facilities can now be licensed in the country following the enactment of the SEZ act in September 2015.
"Less than two years later after the law was passed, Kenya has been able to license the first private SEZ," he said.
The SEZ law lays the development framework that outlines the special tax incentives for industries that set up shop in the zones.
The deputy president noted that developed nations have utilized SEZs to improve the living standards of their citizens.
"We also intend to use the zones to expand job creation and wealth creation opportunities especially among the youth," he added.
JSCh
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China calls for more G20 efforts on African development, digital economy
Source: Xinhua| 2017-07-09 03:14:37|Editor: MJ
HAMBURG, Germany, July 8 (Xinhua) -- Chinese President Xi Jinping on Saturday urged the Group of 20 (G20) major economies to step up efforts in supporting Africa's development and building a digital economy.
He made the remarks at the two-day G20 summit in the German port city of Hamburg, which concluded in the afternoon.
Supporting Africa's development is conducive to promoting balanced and inclusive world economic growth, he said, calling on the G20 members to jointly implement the initiative agreed at last year's summit in Hangzhou, China, on supporting the industrialization of Africa and the least developed countries.
China is a sincere partner of Africa and adheres to the principles of sincerity, practical results, affinity and good faith in dealing with relations with Africa, Xi said, adding that China supports Africa's development through concrete projects with no political strings attached.
China, he said, always maintains that African affairs should be decided independently by the African people, and that Africa's path of development should be determined independently by the African people.
Xi stressed that cooperation with Africa should be proposed, agreed and led by Africa, and be aligned with Africa's own development plans.
Also on Saturday at the summit, Xi said the G20 members should build a digital economy that is friendly to growth and employment.
"We should actively adapt ourselves to digital evolution, foster new economic drives, advance structural reforms and promote integrated development of digital and real economy," said Xi.
To this end, he proposed to implement the G20 Digital Economy Development and Cooperation Initiative and the New Industrial Revolution Action Plan, both adopted at the Hangzhou summit.
The Chinese leader urged all members to cope with risks and challenges so as to steer digital economy toward openness and inclusiveness, adding that the G20 bloc needs to expand access to digital economy and reduce the digital divide between the North and the South.
"We need to pay attention to digitized production and the impact of artificial intelligence on employment in various nations, and to take active employment policies," he added.
The Chinese president also called on all parties to create an international environment favorable to the development of digital economy, better integrate their respective development strategies, and jointly improve the level of digital application.
"We should push for the construction of a peaceful, secure, open and cooperative cyberspace, and explore ways to build multilateral, transparent and inclusive international trade rules in digital sectors," he added.
The summit adopted a communique stressing the G20's common goals of tackling challenges of the times and building an interconnected world.
Source: Xinhua| 2017-07-09 03:14:37|Editor: MJ
HAMBURG, Germany, July 8 (Xinhua) -- Chinese President Xi Jinping on Saturday urged the Group of 20 (G20) major economies to step up efforts in supporting Africa's development and building a digital economy.
He made the remarks at the two-day G20 summit in the German port city of Hamburg, which concluded in the afternoon.
Supporting Africa's development is conducive to promoting balanced and inclusive world economic growth, he said, calling on the G20 members to jointly implement the initiative agreed at last year's summit in Hangzhou, China, on supporting the industrialization of Africa and the least developed countries.
China is a sincere partner of Africa and adheres to the principles of sincerity, practical results, affinity and good faith in dealing with relations with Africa, Xi said, adding that China supports Africa's development through concrete projects with no political strings attached.
China, he said, always maintains that African affairs should be decided independently by the African people, and that Africa's path of development should be determined independently by the African people.
Xi stressed that cooperation with Africa should be proposed, agreed and led by Africa, and be aligned with Africa's own development plans.
Also on Saturday at the summit, Xi said the G20 members should build a digital economy that is friendly to growth and employment.
"We should actively adapt ourselves to digital evolution, foster new economic drives, advance structural reforms and promote integrated development of digital and real economy," said Xi.
To this end, he proposed to implement the G20 Digital Economy Development and Cooperation Initiative and the New Industrial Revolution Action Plan, both adopted at the Hangzhou summit.
The Chinese leader urged all members to cope with risks and challenges so as to steer digital economy toward openness and inclusiveness, adding that the G20 bloc needs to expand access to digital economy and reduce the digital divide between the North and the South.
"We need to pay attention to digitized production and the impact of artificial intelligence on employment in various nations, and to take active employment policies," he added.
The Chinese president also called on all parties to create an international environment favorable to the development of digital economy, better integrate their respective development strategies, and jointly improve the level of digital application.
"We should push for the construction of a peaceful, secure, open and cooperative cyberspace, and explore ways to build multilateral, transparent and inclusive international trade rules in digital sectors," he added.
The summit adopted a communique stressing the G20's common goals of tackling challenges of the times and building an interconnected world.
JSCh
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Ethiopia inaugurates new export-oriented industrial park
Source: Xinhua | 2017-07-09 18:49:32 | Editor: huaxia
A worker goes about her work at Bole Lemi Industrial Park in Addis Ababa, capital of Ethiopia, April 6, 2017. (Xinhua/Michael Tewelde)
ADDIS ABABA, July 9 (Xinhua) -- Ethiopia on Saturday inaugurated a Chinese-built 90 million US dollars Industrial Park in Kombolcha city, in Amhara regional state, 376 km north of capital Addis Ababa.
Ethiopian Prime Minister Hailemariam Desalegn who inaugurated the Kombolcha Industrial Park (KIP) said it is part of the Ethiopian government's plan to make it a manufacturing hub in Africa.
"Factories engaged in export oriented business in Kombolcha city, will have an ideal setting to export their goods through Djibouti port 480 kms away," said Desalegn.
His sentiments were echoed by Li Zhiyuan, Deputy Project Manager at China Civil Engineering Construction Corporation, the company which constructed the industrial park in nine months.
"The completion of Kombolcha Industrial Park means enhanced local employment, increasing attractiveness and competitiveness of Kombolcha city, promoting industrialization of Amhara regional state and boosting the economic development of Ethiopia," said Li.
Source: Xinhua | 2017-07-09 18:49:32 | Editor: huaxia
ADDIS ABABA, July 9 (Xinhua) -- Ethiopia on Saturday inaugurated a Chinese-built 90 million US dollars Industrial Park in Kombolcha city, in Amhara regional state, 376 km north of capital Addis Ababa.
Ethiopian Prime Minister Hailemariam Desalegn who inaugurated the Kombolcha Industrial Park (KIP) said it is part of the Ethiopian government's plan to make it a manufacturing hub in Africa.
"Factories engaged in export oriented business in Kombolcha city, will have an ideal setting to export their goods through Djibouti port 480 kms away," said Desalegn.
His sentiments were echoed by Li Zhiyuan, Deputy Project Manager at China Civil Engineering Construction Corporation, the company which constructed the industrial park in nine months.
"The completion of Kombolcha Industrial Park means enhanced local employment, increasing attractiveness and competitiveness of Kombolcha city, promoting industrialization of Amhara regional state and boosting the economic development of Ethiopia," said Li.
JSCh
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Chinese company completes construction of Cameroon’s Lom Pangar Dam
By Kimeng Hilton Ndukong (People's Daily Online) 14:07, July 11, 2017
Lom Pangar dam
All is now set for the commissioning of the 494 million USD 6 billion cubic-metre capacity reservoir dam in Cameroon’s East Region constructed by a Chinese firm, China Water and Electric Group. The temporary handover of the completed facility, whose construction began in 2012, held on Friday, June 30, 2017 at the site of the dam. The project was jointly funded by the World Bank, French Development Agency, African Development Bank, Development Bank of Central African States, and the European Investment Bank.
SIGNING OF PAPERS
Amongst those who signed documents attesting to the completion of work on the dam was Georges Gwet, the Project Supervisor representing Electricity Development Corporation, EDC, Zi Chaoliang for China Water and Electric Group, Anton Mitev from the Coyne and Bellier/ISL, the French oversight engineering firm, and Jean Edjidji, representing the Ministry of Public Contracts. The temporary handover of the dam followed the visit to the site of an inter-ministry committee on May 31, 2017.
GREAT EXPECTATIONS
Lom Pangar Hydropower Project is expected to increase hydropower generation capacity, reduce seasonal variability of water flow in the Sanaga River and increase access to electricity. The dam is 46 meters high and 7 meters wide at the crest and is composed of a central overflow section with embankment wings and a saddle dam. The Lom Pangar Power Plant and Transmission Line 30 MW hydropower plant consists of four Francis turbines constructed at the foot of the dam.
Lom Pangar dam
TECHNOLOGY TRANSFER
The power plant will be connected through a 105 kilometer 90 kV transmission line to the existing Eastern Network at Bertoua. “All outstanding issues have been resolved. Both the Electricity Development Corporation team and those who managed the emergency thermal plant were trained in China for almost two years on how to produce dam spare parts and install them in Cameroon,” Georges Gwet said at the event.
The ceremony witnessed a demonstration by Cameroonian technicians and engineers on how to manage the dam, especially controlling water level and releasing water downstream for electricity generation at the Song Loulou Hydro-dam Station. This assured anyone who still had doubts that the Chinese had indeed ensured the transfer of knowhow and technology to Cameroonians.
FOUNDATION STONE LAID IN 2012
Cameroon’s President Paul Biya laid the foundation stone for the construction of the dam on August 3, 2012. “… the energy shortage our country is witnessing remains an impediment to development. In many ways, the lack of energy is detrimental to many sectors of our economy. Our industries, agriculture or even the tertiary sector are recording growth rates which remain below par, for the type of modern and dynamic economy that we want,” Biya told the crowd at the event.
He continued: “By laying the foundation stone of the 6 billion m3 capacity reservoir dam, we will be able to regulate the flow of the River Sanaga and, in the medium term, boost the production capacity of existing power plants such as Edea and Song Loulou and, in the long run, complete hydropower development on this major river. I am referring to the construction of several facilities on the watershed downstream of the River Sanaga such as Nachtigal, Song Mbengue and many others. Electricity shortage will then become a thing of the past,” the Cameroonian explained.
OTHER PROJECT DIVIDENDS
The advent of the Lom Pangar dam brings along a number of other benefits to local people apart from increased power generation. These include job creation, development of business activities, establishment of the Deng Deng National Park in May 2010 for the protection of great apes displaced from the dam area, payment of compensation to villagers who lost land and their resettlement in a new modern village. Others are the construction of access roads and a bridge over River Lom.
“Indeed, in man’s endeavour to control the forces of nature for developmental purposes, he has, by harnessing hydroelectric power, made a decisive step towards modernity. That is why this day (August 3, 2012) will have a special place in the annals of our country’s development,” President Paul Biya said almost five years ago. And that wish became reality on June 30, 2017, thanks to the efficient construction carried out by Chinese firm, China Water and Electric Group.
By Kimeng Hilton Ndukong (People's Daily Online) 14:07, July 11, 2017
Lom Pangar dam
All is now set for the commissioning of the 494 million USD 6 billion cubic-metre capacity reservoir dam in Cameroon’s East Region constructed by a Chinese firm, China Water and Electric Group. The temporary handover of the completed facility, whose construction began in 2012, held on Friday, June 30, 2017 at the site of the dam. The project was jointly funded by the World Bank, French Development Agency, African Development Bank, Development Bank of Central African States, and the European Investment Bank.
SIGNING OF PAPERS
Amongst those who signed documents attesting to the completion of work on the dam was Georges Gwet, the Project Supervisor representing Electricity Development Corporation, EDC, Zi Chaoliang for China Water and Electric Group, Anton Mitev from the Coyne and Bellier/ISL, the French oversight engineering firm, and Jean Edjidji, representing the Ministry of Public Contracts. The temporary handover of the dam followed the visit to the site of an inter-ministry committee on May 31, 2017.
GREAT EXPECTATIONS
Lom Pangar Hydropower Project is expected to increase hydropower generation capacity, reduce seasonal variability of water flow in the Sanaga River and increase access to electricity. The dam is 46 meters high and 7 meters wide at the crest and is composed of a central overflow section with embankment wings and a saddle dam. The Lom Pangar Power Plant and Transmission Line 30 MW hydropower plant consists of four Francis turbines constructed at the foot of the dam.
Lom Pangar dam
TECHNOLOGY TRANSFER
The power plant will be connected through a 105 kilometer 90 kV transmission line to the existing Eastern Network at Bertoua. “All outstanding issues have been resolved. Both the Electricity Development Corporation team and those who managed the emergency thermal plant were trained in China for almost two years on how to produce dam spare parts and install them in Cameroon,” Georges Gwet said at the event.
The ceremony witnessed a demonstration by Cameroonian technicians and engineers on how to manage the dam, especially controlling water level and releasing water downstream for electricity generation at the Song Loulou Hydro-dam Station. This assured anyone who still had doubts that the Chinese had indeed ensured the transfer of knowhow and technology to Cameroonians.
FOUNDATION STONE LAID IN 2012
Cameroon’s President Paul Biya laid the foundation stone for the construction of the dam on August 3, 2012. “… the energy shortage our country is witnessing remains an impediment to development. In many ways, the lack of energy is detrimental to many sectors of our economy. Our industries, agriculture or even the tertiary sector are recording growth rates which remain below par, for the type of modern and dynamic economy that we want,” Biya told the crowd at the event.
He continued: “By laying the foundation stone of the 6 billion m3 capacity reservoir dam, we will be able to regulate the flow of the River Sanaga and, in the medium term, boost the production capacity of existing power plants such as Edea and Song Loulou and, in the long run, complete hydropower development on this major river. I am referring to the construction of several facilities on the watershed downstream of the River Sanaga such as Nachtigal, Song Mbengue and many others. Electricity shortage will then become a thing of the past,” the Cameroonian explained.
OTHER PROJECT DIVIDENDS
The advent of the Lom Pangar dam brings along a number of other benefits to local people apart from increased power generation. These include job creation, development of business activities, establishment of the Deng Deng National Park in May 2010 for the protection of great apes displaced from the dam area, payment of compensation to villagers who lost land and their resettlement in a new modern village. Others are the construction of access roads and a bridge over River Lom.
“Indeed, in man’s endeavour to control the forces of nature for developmental purposes, he has, by harnessing hydroelectric power, made a decisive step towards modernity. That is why this day (August 3, 2012) will have a special place in the annals of our country’s development,” President Paul Biya said almost five years ago. And that wish became reality on June 30, 2017, thanks to the efficient construction carried out by Chinese firm, China Water and Electric Group.
JSCh
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CAMCE wins electric system contract in Kenya
Source:Global Times Published: 2017/7/17 21:28:40
China CAMC Engineering Co (CAMCE), an affiliate of State-owned China National Machinery Industry Corp, on Monday signed an 889 million yuan ($131 million) power transmission and transformation contract with Kenya's Ministry of Energy and Petroleum.
The project is located in Kenya's central and northern regions, according to a filing CAMCE sent to the Shenzhen Stock Exchange the same day.
CAMCE is responsible for building a 285-kilometer electric transmission line with 220-kilovolt capacity linking the counties of Isiolo and Garissa, as well as three transformer substations, said the filing.
The project is expected to be completed within 24 months.
Analyst said that the project will help CAMCE expand its business in the power sector and raise its market share in Kenya, news website finance.china.com reported on Monday.
The contract value is equivalent to 11.2 percent of the company's 2016 revenue, which means that the project will "have certain impact on the company's revenue and profit in the coming two years," the report noted.
In 2016, CAMCE reported revenue of 8.04 billion yuan, down 0.97 percent year-on-year, according to its financial statement. Net profit rose 21.24 percent to 1.27 billion yuan.
The Shenzhen-listed company's shares closed at 20.7 yuan on Monday, up 2.78 percent from Monday's opening.
Source:Global Times Published: 2017/7/17 21:28:40
China CAMC Engineering Co (CAMCE), an affiliate of State-owned China National Machinery Industry Corp, on Monday signed an 889 million yuan ($131 million) power transmission and transformation contract with Kenya's Ministry of Energy and Petroleum.
The project is located in Kenya's central and northern regions, according to a filing CAMCE sent to the Shenzhen Stock Exchange the same day.
CAMCE is responsible for building a 285-kilometer electric transmission line with 220-kilovolt capacity linking the counties of Isiolo and Garissa, as well as three transformer substations, said the filing.
The project is expected to be completed within 24 months.
Analyst said that the project will help CAMCE expand its business in the power sector and raise its market share in Kenya, news website finance.china.com reported on Monday.
The contract value is equivalent to 11.2 percent of the company's 2016 revenue, which means that the project will "have certain impact on the company's revenue and profit in the coming two years," the report noted.
In 2016, CAMCE reported revenue of 8.04 billion yuan, down 0.97 percent year-on-year, according to its financial statement. Net profit rose 21.24 percent to 1.27 billion yuan.
The Shenzhen-listed company's shares closed at 20.7 yuan on Monday, up 2.78 percent from Monday's opening.
JSCh
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Chinese companies top player in Ethiopia's investment landscape: official
Source: Xinhua | 2017-07-19 20:33:19 | Editor: huaxia
A worker goes about her work at Bole Lemi Industrial Park in Addis Ababa, capital of Ethiopia, April 6, 2017. (Xinhua/Michael Tewelde)
ADDIS ABABA, July 19 (Xinhua) -- Chinese companies, with close to 379 projects that were either operational or under implementation during the past five years, are on top of Ethiopia's investment landscape both in number and financial capital, an official at the Ethiopian Investment Commission (EIC) has told Xinhua.
According to Mekonen Hailu, EIC Communications Director, 279 of the total 379 Chinese companies were set operational in Ethiopia with projects that worth over 13.16 billion Ethiopian birr (over 572 million U.S. dollars) from 2012 to 2017 period, while the remaining 100 are under implementation.
Ethiopia's manufacturing sector takes the first spot in attracting companies from China both in number and financial capital, with a total of 276 projects either under implementation or operational, he said.
Construction, services and agriculture are said to be the other sectors hosting a great number of Chinese companies to Africa's second most populous nation.
According to Hailu, the Ethiopian government has given due emphasis to the manufacturing sector, as the country is shifting to industry-led economy from the largely agricultural one, and the contribution of Chinese companies is immense.
He said that the east African country has rolled out various incentives that include custom duty exemption, income tax holidays, and provision of land at competitive lease price to attract investors.
According to the Ethiopia's Foreign Ministry, Chinese companies have invested around 4 billion U.S. dollars in Ethiopia during the last two decades, creating job opportunities for over 111,000 Ethiopians on permanent and temporary basis.
Meles Alem, Ethiopia's Foreign Ministry Spokesperson, told Xinhua recently that Ethiopia has targeted to attract new and existing Chinese companies to invest in various sectors in the country, the manufacturing sector in particular.
The Asian country is Ethiopia's largest trading partner, registering a bilateral trade volume of 6.37 billion dollars in 2015. Trade grew at an average rate of 22.2 percent annually for the last several years.
Source: Xinhua | 2017-07-19 20:33:19 | Editor: huaxia
ADDIS ABABA, July 19 (Xinhua) -- Chinese companies, with close to 379 projects that were either operational or under implementation during the past five years, are on top of Ethiopia's investment landscape both in number and financial capital, an official at the Ethiopian Investment Commission (EIC) has told Xinhua.
According to Mekonen Hailu, EIC Communications Director, 279 of the total 379 Chinese companies were set operational in Ethiopia with projects that worth over 13.16 billion Ethiopian birr (over 572 million U.S. dollars) from 2012 to 2017 period, while the remaining 100 are under implementation.
Ethiopia's manufacturing sector takes the first spot in attracting companies from China both in number and financial capital, with a total of 276 projects either under implementation or operational, he said.
Construction, services and agriculture are said to be the other sectors hosting a great number of Chinese companies to Africa's second most populous nation.
According to Hailu, the Ethiopian government has given due emphasis to the manufacturing sector, as the country is shifting to industry-led economy from the largely agricultural one, and the contribution of Chinese companies is immense.
He said that the east African country has rolled out various incentives that include custom duty exemption, income tax holidays, and provision of land at competitive lease price to attract investors.
According to the Ethiopia's Foreign Ministry, Chinese companies have invested around 4 billion U.S. dollars in Ethiopia during the last two decades, creating job opportunities for over 111,000 Ethiopians on permanent and temporary basis.
Meles Alem, Ethiopia's Foreign Ministry Spokesperson, told Xinhua recently that Ethiopia has targeted to attract new and existing Chinese companies to invest in various sectors in the country, the manufacturing sector in particular.
The Asian country is Ethiopia's largest trading partner, registering a bilateral trade volume of 6.37 billion dollars in 2015. Trade grew at an average rate of 22.2 percent annually for the last several years.
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Chinese launch fund to conserve Lake Victoria in Africa
By Jin Zixiong
2017-07-20 12:17 GMT+8
Chinese not-profit environmental conservation organisation, Save the Wild Fund, has started operations to encourage companies to fund conservation projects around Lake Victoria.
Speaking at the launch in Uganda last week, Tiang Clody Zhoo, chairman of Save the Wild Fund, told the audience that the organisation is partnering with selected local authorities in the Lake Victoria region, to lobby all Chinese companies operating in the country to contribute towards an environmental fund to plant trees around the Lake.
“We are encouraging all Chinese companies operating in Uganda to contribute towards the fund because for them to continue making profits from here, they need to maintain the environment today so that these resources are not depleted,” Zhoo said in a statement.
According to Zhoo, their strategy involves providing fruit and wood tree seedlings to local authorities near the lake to plant them on the borders of wetlands to segregate the land, while the fruits will also provide income for the communities.
With a surface area of approximately 68,800 square kilometres (26,600 sq mi), Lake Victoria is Africa's largest lake by area. / CFP Picture
At the event, Vincent De Paul Kayanja, a chairman of the LVRLAC – a cooperative regional authority – said that their association was aiming to bring together local authorities in all the countries surrounding Lake Victoria, with a mandate to ensure that the lake is carefully managed and does not get polluted.
This pledge echoed that of the 2013 Entebbe Declaration, which committed the association to plant three million trees across East Africa.
“Since 1997, we have raised membership of 130 local authorities in Kenya, Tanzania and soon we expect to be joined by Rwanda and Burundi since we all share Lake Victoria,” Kayanja said on Friday as they received a first batch of 10,000 tree seedlings.
By Jin Zixiong
2017-07-20 12:17 GMT+8
Chinese not-profit environmental conservation organisation, Save the Wild Fund, has started operations to encourage companies to fund conservation projects around Lake Victoria.
Speaking at the launch in Uganda last week, Tiang Clody Zhoo, chairman of Save the Wild Fund, told the audience that the organisation is partnering with selected local authorities in the Lake Victoria region, to lobby all Chinese companies operating in the country to contribute towards an environmental fund to plant trees around the Lake.
“We are encouraging all Chinese companies operating in Uganda to contribute towards the fund because for them to continue making profits from here, they need to maintain the environment today so that these resources are not depleted,” Zhoo said in a statement.
According to Zhoo, their strategy involves providing fruit and wood tree seedlings to local authorities near the lake to plant them on the borders of wetlands to segregate the land, while the fruits will also provide income for the communities.
At the event, Vincent De Paul Kayanja, a chairman of the LVRLAC – a cooperative regional authority – said that their association was aiming to bring together local authorities in all the countries surrounding Lake Victoria, with a mandate to ensure that the lake is carefully managed and does not get polluted.
This pledge echoed that of the 2013 Entebbe Declaration, which committed the association to plant three million trees across East Africa.
“Since 1997, we have raised membership of 130 local authorities in Kenya, Tanzania and soon we expect to be joined by Rwanda and Burundi since we all share Lake Victoria,” Kayanja said on Friday as they received a first batch of 10,000 tree seedlings.
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