https://newsletter.en.creamermedia.com

China's TBEA to invest in €180m Gabon hydropower project – Gabon official

3rd September 2018

By: Reuters

  

Font size: - +

Chinese energy firm TBEA will invest in a €180-million ($209-million) hydropower project in Gabon alongside the West African country's sovereign wealth fund, a Gabonese official said on Saturday.

Construction will begin "pretty soon" on the project, which will have a power generation capacity of 70MW in the first phase, Liban Soleman, general coordinator of the Bureau of Coordination and Planning for an Emerging Gabon, told Reuters in an interview in Beijing.

"There are going to be multiple phases," said Soleman, who is in the Chinese capital for the Forum on China-Africa Cooperation, adding that the project, known as FE2, was located in the north of Gabon near the border with Cameroon and Equatorial Guinea.

Gabon, a member of Opec pumping just under 200 000 barrels of crude oil per day and one of the world's biggest producers of manganese, is working to diversify its economy, which is projected to grow by around 2.2% this year, said US-educated Soleman, who also chairs Gabon's National Agency for Investment Promotion.

The investment by TBEA, a private company involved in wind power in China and solar power in Pakistan, according to its website, will be "direct . . . not with debt".

The website said TBEA saw the deal as a public-private partnership with the Gabonese Strategic Investment Fund. TBEA could not immediately be reached for comment outside of normal working hours.

"There is a lot of foreign direct investment happening in Gabon from Chinese companies," often in special industrial zones, Soleman added.

Another example was a $50-million to $100-million progressive investment by Jiangsu Wanlin Modern Logistics Co., which has started building a factory to make high-quality furniture in Gabon's capital, Libreville, he said.

Gabonese President Ali Bongo was due to hold a bilateral meeting with Chinese counterpart Xi Jinping on Saturday afternoon, Soleman added.

Edited by Reuters

Comments

Showroom

SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT SHOWROOM 
Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (08/11/2024)
8th November 2024 By: Martin Creamer
Magazine round up | 08 November 2024
Magazine round up | 08 November 2024
8th November 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.133 0.227s - 205pq - 2rq
Subscribe Now