Finance

Zambia: China Railway Construction Corp gets $2.3bn contract to build railway

Monday, 07 November 2016 14:21

China Railway Construction Corp has announced in a statement published on November 3, that one of its subsidiaries won a $2.3 billion contract in Zambia to build a railway that will connect Chipata (in the East) to Serenje (in the Centre).

Construction works for the 388km-long infrastructure should last four years. The contract for the project was signed by China Civil Engineering Construction Company (CCECC) and Zambia’s Ministry of Transport.

“This project aims at enhancing regional trade and transport competitiveness by providing an alternative trade route to the East Coast of Africa via the Port of Nacala in Mozambique,” Zambia’s Minister of Transport, Brian Mushimba, said at the related signing ceremony in Lusaka.     

According to him, the new railway will also connect Zambia and Malawi through the existing Chipata-Mchinji line.

China’s Ambassador to Zambia, Yang Youming said the project would also help provide access to the sea for various landlocked Southern African nations.I believe it will be an important part of the integrated southern African transportation system which connects Zambia with Tanzania, the Democratic Republic of Congo, Malawi and Mozambique,” he said.  

Walid Khefifi

On the same topic
Gabon mandates local reinsurance use before foreign transfers Policy aims to curb capital flight, boost premium retention Insurance market revenue...
Togo plans to raise CFA25 billion ($40.5 million) through short- and medium-term debt securities on the UMOA-Titres market on October 24,...
Kenya proposes crypto risk insurance to protect against theft, fraud Draft law creates new "digital asset insurance" category in sector Move...
OeEB and Finnfund issue $25M loan to CRDB Burundi 4,000 MSMEs to benefit, 30% funds for women-led firms Deal marks OeEB’s first Burundi...
Most Read
01

BYD to install 200-300 EV chargers in South Africa by 2026 Fast-charging stations powered by grid...

China's BYD Plans 300-Station EV Charging Network for South Africa
02

Drones to aid soil health, pest control, and input efficiency High costs, skills gap challenge ac...

Kenya Plans National Drone Rollout to Modernize Farming
03

Diaspora sent $990M to CEMAC via mobile money in 2023 Europe led transfers; Cameroon dominat...

Mobile Money Transfers to CEMAC Near $1B in 2023
04

TotalEnergies, Perenco, and Assala Energy account for over 80% of Gabon’s oil production, estimate...

Gabon Seeks Foreign Partners to Revive Declining Oil Sector
05

IMF cuts WAEMU 2025 growth forecast to 5.9% Strong demand, services, and construction support...

IMF Lowers WAEMU Bloc’s Growth Forecast to 5.9% for 2025, Benin Now Leading
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.