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
World Bank opens first resident representation in Malabo, led by economist Juan Diego Alonso. Mandate focuses on inclusive growth, private-sector...
Nearly half of spending directed to social programs amid growth, financing pressures Lawmakers debate sustainability and external financing as...
The Central Bank reduces its policy rate to 9%, marking a ninth consecutive cut. Inflation remains contained at 4.5%, within the 2.5%–7.5% target...
Africa’s factoring volume rose from €21.6 billion in 2017 to €50 billion ($58.17 billion) in 2024. Afreximbank says the continent must...
Most Read
01

Camtel to launch Blue Money in 2026, entering Cameroon’s crowded mobile money market led by MTN Mo...

Cameroon: State Owned Telecommunication Company To Enter Mobile Money Market
02

Eritrea faces some of the Horn of Africa’s deepest infrastructure and climate-resilience gaps, lim...

AfDB Re-engages Eritrea With Strategy Focused on Infrastructure, Climate Resilience and Regional Integration
03

Huaxin's $100M Balaka plant localizes clinker production, saving Malawi $50M yearly in f...

Malawi: New $100M Cement Plant Targets Forex Crisis but Faces Energy Reality
04

Nigeria seeks Boeing-Cranfield partnership to build national aircraft MRO centre Project aims t...

Nigeria Pursues Boeing, Cranfield Partnership to Establish Aircraft Maintenance Center
05

Omer-Decugis & Cie acquired 100% of Côte d’Ivoire–based Vergers du Bandama. Vergers du Band...

Omer-Decugis & Cie Expands Mango Operations in West Africa
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.