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China Harbour Engineering Company Ltd Signed a Highway Building Contract of USD1b with Nigeria
2008-07-15 08:51  Economic and Commercial Section, Consulate-general of the PRC Karachi



Based on Pakistan Business Chronicle on July 14, AFC Sunday announced China Harbour Engineering Company Ltd had signed a highway building contract of USD1b with Nigeria with project site at the port Harcout, African largest petroleum industry location.

The project gets China’s company to be important development partner of Niger delta, abundant in oil with daily crude capacity of 2.1m barrels. Due to poor infrastructures and shortage of investment, locals are poor and complain that benefit of crude can’t be shared, resulting in such events as riots of military armed groups, destroying oil pipelines and kidnapping foreign workers frequently happening.

AFC thought the 6-lane ring highway of 125 kilometers will be African largest municipal highway project, helping to promoting the economic development of Harbour. The key to solve problems involving local poverty and restlessness is construction of infrastructure, creation of employment and economic development. 30% of China oil import depends on Africa, so China invests a large amount in Nigeria and Angola, two African large oil-producing countries.

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