Equatorial Guinea Scores Investment Deals With Chinese Firms at Economic Forum in Dalian

DALIAN, China, April 30, 2015 /PRNewswire/ --

During a historic visit to China the Government of Equatorial Guinea, represented by the Ministry of Mines, Industry and Energy (MMIE), announced on April 30 the signing of multiple memoranda of understanding with Chinese companies covering large areas of cooperation in the electricity and industrial sectors. The agreements were made during the Equatorial Guinea-Asia Economic Forum in Dalian.

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The Ministry of Mines, Industry and Energy was represented by H.E. the Minister, Gabriel Mbaga Obiang Lima. China Dalian International Cooperation Group (CDIG) was represented by the company's president, Mr. Zhu Mingyi.

H.E. Teodoro Obiang Nguema Mbasogo, President of Equatorial Guinea, said: "We are aware that maximum security is needed to ensure investment. In this regard, we can confirm 45 years of experience in the cooperation between China and Equatorial Guinea; cooperation which in many ways has been possible thanks to the peace and stability that prevails in the country."

The agreements were made between the Chinese firms and the Government of Equatorial Guinea, represented by the MMIE, and comprise the following:

• MoU with CDIG for the execution of a study for development of the Industrial City of Mbini. CDIG will undertake preliminary technical studies and explore key areas to promote the industrial city to international investors.

• MoU with China State Construction Engineering Corporation for planning and development of the Petroleum Industrial City of Luba.

• MoU with Sinohydro Corporation for a feasibility study to develop a hydroelectric plant on the Wele River in Equatorial Guinea. Sinohydro also built the Djibloho 120-MW hydro facility.

• MoU with China Machinery Engineering Corporation (CMEC) for a technical and financial viability study to build a combined cycle 100-MW power plant in the city of Kogo.

• MoU with CMEC for a technical and financial viability study to establish an interconnected power grid in the CEMAC region.

• MoU with CMEC for a technical and financial viability study to build street lamps and related public lighting infrastructure in the Industrial City of Mbini.

The agreements come just days after an official state visit from H.E. the President of Equatorial Guinea to Beijing. On April 30, the Government of Equatorial Guinea hosted the Equatorial Guinea-Asia Economic Forum in Dalian, where ministers presented investment opportunities to an audience of 500 potential Chinese investors.

Contact:
Cesar Hinestrosa
chinestrosa@mmie.gob.gq
+86-15842619287