The Conversation posted on 3 April 2019 an analysis titled "The DRC and China's Sicomines: Why Future Deals Should Be Different" by Andoni Maiza Larrarte, Universidad del Pais Vasco in Madrid, and Gloria Claudio-Quiroga, Francisco de Vitoria University in Madrid.
More than a decade on, the Sicomines minerals for infrastructure deal has not lived up to expectations. There have been infrastructure project delays as well as unexpected costs. The DRC will not receive any substantial income from the agreement in the foreseeable future. The Sicomines agreement never included any guarantee of the actual value that the Congolese population would get in exchange for the country's main source of wealth. The authors argue that future deals in Africa need to follow a new model.
Showing posts with label China Railway Engineering Corporation. Show all posts
Showing posts with label China Railway Engineering Corporation. Show all posts
Thursday, April 11, 2019
Monday, October 29, 2018
Addis Ababa-Djibouti Railway: A Bad Deal for China?
The South China Morning Post published on 29 October 2018 an article titled "Botched Chinese Railway Project in Africa Is a Warning to Belt and Road Investors" by Eric Ng.
The China Rail Engineering Corporation and China Civil Engineering Construction Corporation built the $4 billion railway between Djibouti and Addis Ababa. The chief economist for the China Export and Credit Insurance Corporation (Sinosure), which helped finance the project, recently stated that mistakes made in the project have cost Sinosure almost $1 billion. The project was backed by $3.3 billion in loans from the Export-Import Bank of China.
The China Rail Engineering Corporation and China Civil Engineering Construction Corporation built the $4 billion railway between Djibouti and Addis Ababa. The chief economist for the China Export and Credit Insurance Corporation (Sinosure), which helped finance the project, recently stated that mistakes made in the project have cost Sinosure almost $1 billion. The project was backed by $3.3 billion in loans from the Export-Import Bank of China.
Wednesday, November 29, 2017
Chinese-Built Ethiopia-Djibouti Railway Now Operating (French and English)
The Oxford Business Group published on 27 November 2017 an article titled "Commercial Operations Under Way on Djibouti-Ethiopia Railway."
The 750-kilometer long Chinese-built railway between Addis Ababa and the port of Djibouti began operating commercially on 8 November 2017. This should significantly improve the movement of freight between Ethiopia and Djibouti.
The 750-kilometer long Chinese-built railway between Addis Ababa and the port of Djibouti began operating commercially on 8 November 2017. This should significantly improve the movement of freight between Ethiopia and Djibouti.
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