Chinese Enterprises in Africa
Tag: China, Africa, enterprise
Summary: Chinese Enterprises in Africa foucus on benefiting both sides. You could vist the China-Africa business platform TOAFRICA.NET to develop the trade between Africa and China.
The Takazze Hydropower Station on the Takazze River, a tributary of the Nile, is a joint venture built by the Ethiopia Electric Power Co. and the China Hydropower Joint Group composed of China Water Conservancy and Power Engineering Co. and Gezhouba Water Conservancy and Power Engineering Group Co.
With a double-curve concrete dam measuring an impressive 185 meters high, it is the largest water control project in Africa and also the largest cooperative project between China and an African country. Both sides maintain the project will exert profound significance on the development of economic cooperation between the two countries.
China Water Conservancy and Power Engineering Co. is one of the three main constructers of the Three Gorges Water Conservancy Project, the largest of its kind in the world. In 1999 and 2000, the company ranked the 136th among the 225 top construction contractors worldwide. It has contracted for the construction of 80 percent of the large and medium-sized water control projects and hydropower stations in China.
The China Hydropower Joint Group won the bidding for the Takazze project after defeating consortiums from Germany, Japan, Italy and other countries,.
Several years ago, the Cangshi Co. from Gongyi, Henan Province, and the government of Anambra State of Nigeria concluded a contract for investing $12 million for building Fresh Water Works in the Nigerian state. To date, the company has run five enterprises in the country.
The Cangshi Co. is a township enterprise producing large concrete equipment, mining machinery, oil-extractors and nail-producing machines. In April 2000, the company signed a contract with the government of Anambra State for jointly establishing a casting and machinery company worth $44 million, in which the Chinese company invested with machinery and equipment. Designing and infrastructure construction of the joint venture have been completed and some projects have begun operation. By the end of this year, five more production lines are expected to be completed.
Being honest and putting trust and mutual benefit above everything are articles of faith of Cangshi Co. and the reasons for its success. In October 2001, officials of two other Nigerian states came to China and concluded contracts with the company for building a 600,000-ton cement plant, a 25-million woven bag factory and a 50,000-ton sugar factory. The combined investment totaled $100 million. Today all these cooperative projects are underway.