Finance

Razel wins a 48 billion FCFA contract for the construction of Mfoundi canal

Friday, 02 October 2015 08:57

French firm Razel has joined Chinese Anhui Shuian Constructions Group on the construction project for the canal of Mfoundi, a river which runs through Yaoundé and whose overflow causes flooding in the Cameroonian capital city.

After awarding a 10.8 billion FCFA contract to the above-mentioned Chinese firm for the first stage of construction, the urban community of Yaoundé now gives another contract (worth 48 billion FCFA) to the French firm Razel which will undertake the larger part of the project.

The construction of the Mfoundi canal is part of the Yaoundé Urban Development Strategy (PADY in French) which is currently in its second stage. Government obtained for this stage, a funding from the French Agency for Development (AFD in French) which amounts to 52.5 billion FCFA.

During the first stage of this project, 3.5 km of the canal were built. The African Development Bank (ADB) injected 22.3 billion FCFA in this stage which resulted in the creation of 1,800 direct and indirect jobs.

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