(Ecofin Agency) - Blank check company China Yunhong Group announces intention to invest $336.6 million, or about XOF200 billion, in Burkina Faso over the next 5 years.

“I represent China’s private sector and in Burkina Faso, I commit to injecting funds in sectors such as agriculture, health and mining,” CEO Li Yubao said on July 29 during a meeting with the Burkinabe President, Roch Marc Christian Kaboré.

Under this strategy, Li plans to build a pharmaceutical plant in the West African country and make it a hub for its activities on the continent. The envisaged investments come at a time when China and Burkina Faso are implementing an enabling environment for better relations, as part of the official reestablishment of their diplomatic links last year.