Angola infrastructure contracts for Chinese firms

Chinese funding will finance a series of infrastructure projects in Angola. The funding for the projects is being provided by China Credit Line (LCC), with the 15 projects worth a total of US$631 million. Some of the work will be carried out by local contractors while Chinese companies will handle others now that the projects have been awarded by the Angolan Government. One of the largest projects is for the $59.4 million upgrade of a road in Lunda Sul Province, which will be handled by Chinese firm China N
July 4, 2016 Read time: 1 min
Chinese funding will finance a series of infrastructure projects in Angola. The funding for the projects is being provided by China Credit Line (LCC), with the 15 projects worth a total of US$631 million. Some of the work will be carried out by local contractors while Chinese companies will handle others now that the projects have been awarded by the Angolan Government. One of the largest projects is for the $59.4 million upgrade of a road in Lunda Sul Province, which will be handled by Chinese firm China National Machinery Industry Corporation Group. Other key projects include rebuilding the roads from Caconda to Chicomba and Caconda to Rion Ngalo. These will be carried out by China Railway 20 Bureau Group Corporation, with the work costing an estimated $58.8 million.
Finance & Funding

Related Content

  • China’s Exim Bank to fund two new Macedonia highways
    November 15, 2013
    The Chinese Exim Bank is providing much of the funding for two highway projects in Macedonia. The construction work will be carried out by a Chinese contractor, which has signed a deal with the Macedonian Government. The Chinese Sinohydro Corporation will build two stretches of highway linking Kicevo-Ohrid and Miladinovci-Stip. These will measure 56.7km and 53km long, respectively. Some 90% of the construction costs will come from the Macedonian Government, with this €580 million being provided by the loan
    Read More
  • India highway project deals underway
    July 21, 2016
    India is busy with plans to expand its highway network. The work is being managed by the National Highways Authority of India (NHAI) and up to 97 different highway projects are envisaged in the complete programme. Some US$16 billion worth of projects could be awarded in the 2016-2017 period if all the planned projects move ahead as anticipated. These would deliver an additional 6,631km of highways in total. At present there are 250 highway construction projects underway in India, while 400 have already been
    Read More
  • Improved Lanzhou airport road link in China
    December 10, 2015
    An upgraded road link will reduce travel time to and from Lanzhou Zhongchuan Airport in China Work on the expressway connecting Lanzhou Zhongchuan Airport to Lanzhou city centre is now underway. An important role in the resurfacing work is being played by the use of materials supplied by Shell Bitumen. The facility is the main airport for Gansu Province and it is of major economic importance to the region. The expressway runs some 70km from Lanzhou Zhongchuan Airport to the centre of Lanzhou. Work on the
    Read More
  • Italian funding to complete Angolan highway
    July 23, 2014
    Work on Angola’s Luanda-Soyo highway section is being financed from Italian sources. The Italian export credit agency and credit insurer SACE is guaranteeing a US$221.8 million credit line to Angola's Ministry of Finance for completing works on the final stretch of the Luanda-Soyo highway. The work on the project is being carried out by Italian civil engineering firm CMC Ravenna. The project itself is worth some $336.8 million. Meanwhile BNP Paribas is acting as Sole Structuring Bank and Agent Bank for the
    Read More

Highlighted Content