china-cameroon: a financing agreement signed, page-5

Other similar article I found:

Cooperation: China offers one billion francs to Cameroon
Written by La Nouvelle Expression
(french tranlation)
Wednesday, December 29, 2010

It was part of the signing of an agreement between the two countries yesterday in Yaounde.

This is an allocation of 20 million yuan RMB, the Chinese currency, the Chinese government has granted the Cameroonian government yesterday. "A gift for no consideration," insisted Xue Jinwei, Ambassador of the People's Republic of China in Cameroon, yesterday during the signing ceremony of a new agreement between
Governments of the two friendly countries, the Ministry of Economy, Planning and Land Management (Minepat).
This should serve to support the friendly nation engaged in major projects. "The year 2011 will be marked for Cameroon by promoting or launching a series of significant projects," he justified. Citing among other hydro Lom Pangar of Memve'le and Mekin, social housing, the deepwater port of Kribi. A "Christmas gift", as named Xue Jinwei itself, a country that "for years, has made great efforts to accomplish these projects to improve the socioeconomic infrastructure of the country to to make Cameroon a country emerging by 2035. " A project for which China says it wants to participate.

China is particularly interested that "among the projects that Cameroon has committed, some have received support from the Chinese government or the commitment of Chinese enterprises," as noted by the ambassador.

Sharm El-Sheikh
In reiterating the thanks of the Government of Cameroon against this action, Louis Paul Motaze the Minepat, announces that "this donation will be directed towards the attainment of economic cooperation projects agreed between the two governments." According to the Chinese government representative in Yaounde, the agreement includes "three agreements including two in exchange." Before announcing that "next year will mark the fiftieth anniversary of the establishment of diplomatic relations between China and Cameroon, and there will be a series of agreements on economic and technical cooperation, but also credit agreements for major projects . A Chinese delegation is expected in Cameroon in early January for this purpose.

The agreement signed yesterday is within the scope of the resolutions taken at the 4th Ministerial Conference of Forum on China-Africa Cooperation held in November 2009 in Sharm El-Sheikh. Forum in which China has undertaken new measures to strengthen its cooperation with Africa for the next three years.

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(Squidd and Bizzo),

Agree with you guys, I guess China from the begining (re. article below) are interested in the construction of infrastucture of those projects. They have technical skills, coupled with a strong financial background and a very tight relationship with African countries.

Kribi will have its deep water port in 2013, meetings of harmonization of views in the realization of the Project and roundtables multiply
(french translation)

We talk for decades, but the idea has come a long way. And it is almost certain, will have its Kribi deep sea port. The port of Douala with shallow water would have experienced for an additional dredging that the ports of the same type do not experience in Africa. Meetings and round tables are increasing in the realization of this project where feasibility studies were conducted in 2005. Note these days a meeting to harmonize views late March and early April. And Thursday 08 to Friday, May 9, two days at the Hilton Hotel in roundtable organized by the Cameroon government helped make the project a hand thanks to the presence of many investors and traders guests ....

Five members of the Government namely Essimi Menye Finance Bernard MESSENGUE Avom of Public Works, Badel Ndanga Ndinga Industries, Mines and Technological Development, Gounouko Ahounaye of Transportation and Louis Paul Motaze of Economy, Planning and the Regional Planning gave presentations about the project on reading the Departments they each charge.

Financing a project of over 500 billion FCFA

How Cameroon will finance the project estimated at 280 billion FCFA in itself and with 500 km of roads planned for more profitability will require about 300 billion FCFA? One of the attractions of this roundtable and others who follow resided there, through various expressions of interest from each other.

We saw for example Xu Jifei DGA Group China National Electric Equipment Corporation entering into a commitment with regard to possible construction of infrastructure with its experience in this area have participated in just one port in a city North of China. China National Electric Equipment Corporation could put up to 200 million Euro (about 131 billion FCFA). And also it will be determined after those who are willing to contribute to its operation.

Cameroonian officials said at the roundtable organized at the Hilton, the protests have given full satisfaction. Although formal, the Minister of Economy, Planning and Regional Development will be reassuring. "There are even some who are willing to fund everything in proposing the BOT (Build-Operate-Transfer). They build, operate and transfer infrastructure in the State "he confided to the press. The Minister of Public Works will give an idea of the main roads to build or rehabilitate project-related, these include areas Ngaoundere Yaounde-Kribi-Ndjamena, Chad; Yaounde-Kribi-Bertoua-Bangui, Central African Republic, Kribi- Ebolowa-Sangmelima-Mintom Ouesso-Brazzaville in the Republic of Congo, and Mintom-Nola-Bangui Central African Republic to Kisangani in the Democratic Republic of Congo, Mr. MESSENGUE Avom recalled that the proposed construction of the Yaounde-Pont Olama called Kribi rally is under construction, with work being carried out at 50%. "The feasibility studies will be done this year and launched the search for funding for other projects," he continued, adding that "many donors are supportive of the proposed road Kribi-Congo border."

When will appreciate this additional external financing, we will assess the contribution it takes to Cameroon. The Minister of Finance Lazarus Essimi Menye to indicate here that "if necessary, the state will turn to the stock exchange in Douala. Bonds to be "financial instruments that allow a term to take the money and pay later."

We see, therefore, the government is set on achieving this ambitious project whose constant need of Cameroon with a deepwater port will be satisfied.

Its impact

This project will certainly develop the city of Kribi, but it will certainly be an asset to Douala today, Cameroon's economic growth, it will create jobs and miscellaneous investments. There is talk of a rate of return between 11.5 and 16.3% for updated economic benefit of 101 to 406 million euros (more than 66 to more than 266 billion CFA francs) over 30 years. We can not forget the 400 km of rail network to be added to Cameroon for the evacuation of the exploitation of iron Mballam east to Kribi and the development of exports of minerals as they were briefly identified Mr Badel Ndanga Ndinga, Minister for Industries, Mines and Technological Development with 900 million tonnes of iron Mballam justly or reserve in the order of one billion of the ore at Kribi, the diamond deposit estimated at 750 million carats in Boumba and Ngoko, cobalt in the region Lomie always to the east, the uranium regions in northern Poli and Lolodorf in the Southern Province, gold, bauxite, nickel, a list far from exhaustive and that ignores the results of many other research undertaken by the 60 permits granted, how could we ignore this here by removal of ore, the installation of industrial units in the port of Kribi conglomerate, which proceed either to the processing of raw materials into finished or semi-finished before exporting. There are also investment projects in energy through hydroelectric dams and power stations.

The deepwater port of Kribi could help establish a complete industrial chain in Cameroon with export of minerals, transportation, processing, exports to the routes for use in foreign plants. There could possibly relocation of some companies in Cameroon. Real opportunity for Cameroon to make up the imbalance in its trade balance is great.
In the sub-region a port equipment for offshore transshipment containers and as well as a platform for distribution of goods and commodities serve it in Senegal (West Africa), Namibia (Africa Southern). This is to highlight a passage of operating and development that will extend from Kribi in Cameroon as well as RCA Bangui, Kisangani (Democratic Republic of Congo), Equatorial Guinea, Gabon and the Congo - Brazzaville.

Two major traffics characterize its activity: the business or goods, mainly industrial products, containers, timber, oil and grain but also vessels and other ships and buildings.

In sum, the importance of the deepwater port of Kribi in the South of Grand Batanga, is well established and could be operational in 2013 in the forecasts of the Government of Cameroon. It will not be a competing port does one learns that of Douala, nor that of Limbe, on the contrary it is complementary to these other two. Although the competition is not a bad thing if the returns were maximized here and there at the optimum.

Cheers,
Bigstar