China’s Yuanda Is in Running for USD160 Million Construction Contract in Cameroon

China’s Yuanda Is in Running for USD160 Million Construction Contract in Cameroon

Tang Shihua

Date: Mon, 04/16/2018 - 15:32 / source:Yicai
China’s Yuanda Is in Running for USD160 Million Construction Contract in Cameroon
China’s Yuanda Is in Running for USD160 Million Construction Contract in Cameroon

(Yicai Global) April 16 -- Shenyang Yuanda Intelligent Industrial Group Co. has received an invitation from the Cameroonian government to visit a project site in a trip which could see the Chinese elevator maker win a contract to participate in a construction project in the central African nation.

The Electricity Sector Regulation Agency, a department under the Republic of Cameroon’s energy ministry, asked the company to send teams to a project site in Yaounde, the nation’s capital, on April 26, Yuanda said in a statement yesterday. There are plans to build offices, hotels, a commercial center and parking lot at the location.

Yuanda offered a 22-year, USD160-million contract for the project, including two years for construction and a 20-year operational period. The deal will be a public-private partnership and cover funding, design, construction, development and maintenance, the statement said.

The invitation comes several weeks after Cameroonian President Paul Biya visited Chinese President Xi Jinping in Beijing, where Xi encouraged Cameroon to take an active role in the Belt and Road Initiative.

The Belt and Road is a 30- to 40-year grand plan devised by Xi, which many compared with the ancient Silk Road. The strategy aims to build a vast infrastructure and trade route boasting a network of rails, roads, ports and pipes across Asia, Europe and Africa.

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Keywords: Public-Private Partnership, Cameroon, Shenyang Yuanda Intelligent Industrial Group, Yaounde