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Zimbabwe: Chinese Firm Mulls US$500m Investment
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 Published by the government of Zimbabwe |
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The Herald (Harare)
10 May 2008
Posted to the web 12 May 2008
Harare
A Chinese company is exploring the possibility of investing US$500 million for electricity generation in Zimbabwe, Chinese Ambassador to Zimbabwe Mr Nansheng Yuan has said.
Addressing journalists in Harare on Thursday, Ambassador Nasheng said China was ready to assist Zimbabwe in infrastructure restoration.
He also said the China Hainan Airline was willing to expand the Victoria Falls Airport.
"While Zimbabwe is still in the process of election, China has never stopped its assistance to the Zimbabwean people.
"New funds will be injected for the ongoing renovation of the National Sports Stadium," said Ambassador Yuan.
He said a new Chinese medical team arrived in Zimbabwe on Thursday and according to the working protocol between the two countries signed in March, China would make the payment for these doctors.
Ambassador Nasheng said under the eight measures of assisting Africa proposed by Chinese President Hu Jintao during the China-Africa Beijing Summit in 2006, China would set up an Agricultural Technology Demonstration Centre, a hospital and two schools in Zimbabwe.
He said the investment in ATDC had increased from 10 million RMB to 40 million RMB and both Governments had finalised all the preparations and other related work.
"Another team of 10 Chinese Youth volunteers will arrive soon to start from where the previous team has left. Zimbabwe's personnel in the public sector will continue to benefit from short-term training courses offered by China in various fields ranging from computer science to agro-technique," said Ambassador Yuan.
He said the courses were targeted at all African countries while the number of Zimbabweans trained last year was the highest in Africa.
He said China was planning to fund an orphanage school, which will accommodate over 800 orphans.
On the ship carrying arms to Zimbabwe, Ambassador Nasheng said China upholds the principle of non-interference in other country's internal affairs.
He said the relevant sales contract was signed last year and had nothing to do with the elections in Zimbabwe.
"Since Zimbabwe cannot receive the goods as scheduled, the Chinese company could not unload and the goods were taken back to China," he said.
The ambassador said China and Zimbabwe had strong bonds of friendship and co-operation that developed since the days of Zimbabwe's struggle for independence.
Ambassador Nasheng said these relations were now bearing fruit in many fields of co-operation, including politics, economic co-operation and trade, culture, tourism, people to people contact, especially after Zimbabwe adopted the Look East policy in 2002.
"Take trade for example. In 2003, bilateral trade was US$197 million. In 2007, trade reached US$340 million, up 72,6 percent from that in 2003.
"Zimbabwe exports to China also increased to US$200 million from US$167 million in 2003, a rise by 20 percent," he said.
He said the aggregate investment by Chinese companies in engineering and contracted projects amounted to US$1,6 billion.
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Ambassador Nasheng said it was his fervent hope that the good harmonious relations existing between the two countries would continue to grow from strength to strength.
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