back to square 1; mou with china rail- africa

Hi Everybody,

In September 2010 a MOU was reached with China Rail- CRCC China-Africa Construction Limited (“CAC”) and Sundance Resources Ltd (“Sundance”) ; that they had entered into a Memorandum of Understanding (“MOU”) to establish the scope, cost and delivery programme for the railway track and rolling stock needed to support Sundance’s Mbalam Project in Cameroon and Congo, West Africa.

http://www.sundanceresources.com.au/IRM/Company/ShowPage.aspx/PDFs/1749-15844879/MbalamProjectMOUSignedwithChinaRailAfrica

As can be seen here China has a ‘track record’ for financing railway projects in Africa.

http://designbuildsource.com.au/china-lends-us3-3-billion-to-rail-construction-in-horn-of-africa

“China Lends US$3.3 Billion to Rail Construction in Horn of Africa; May 2013. “

“The Chinese government has further stated that it will provide an additional $20 billion in loans over the next three years to support the development of Africa’s infrastructure, agriculture and manufacturing sectors.”

Hopefully China Railways “highly-skilled engineers, artisans, financial experts and
construction specialists” are again working with Sundance on this project.

Kind regards,

tongal